Guideline Value for Elumalai Street (Vetri Nagar)

Elumalai Street (Vetri Nagar) guideline value

The current guideline value of Elumalai Street (Vetri Nagar) is Rs 3,301 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village and falls under the Sembiam SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Elumalai Street (Vetri Nagar) has changed

The guideline value for Elumalai Street (Vetri Nagar) has seen several revisions over the years. In 2002, the value was Rs 325 per sq.ft, which increased to Rs 354 per sq.ft in 2003. The value rose significantly to Rs 700 per sq.ft in 2007, followed by a substantial jump to Rs 3,000 per sq.ft in 2012. However, it then decreased to Rs 2,010 per sq.ft in 2017. The subsequent revision in 2023 set the value at Rs 3,000 per sq.ft, leading to the current value of Rs 3,301 per sq.ft in 2024, which represents a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 916%. The revisions for the years 2012 to 2017 showed a decrease of 33%, while the increase from 2017 to 2023 was 49%. There are no figures available in the register for any other years regarding this street.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median value is Rs 3,301 per sq.ft, which is equal to the current guideline value for Elumalai Street (Vetri Nagar).

• Elumalai Street (George Colony): Rs 4,200 per sq.ft (2024)
• E.S.I. Hospital Street: Rs 3,301 per sq.ft (2024)
• Elango Salai 70 Feet Street: Rs 4,900 per sq.ft (2024)
• DuraiSamy Street (Vetri Nagar): Rs 3,301 per sq.ft (2024)
• Gandhimathi 1st Lane (Vetri Nagar Extension): Rs 3,301 per sq.ft (2024)
• Gandhimathi 2nd Lane (Vetri Nagar Extension): Rs 3,301 per sq.ft (2024)

Stamp duty and registration fee for property in Elumalai Street (Vetri Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,301 per sq.ft, the total guideline value amounts to Rs 33,01,000. The stamp duty at 7% would be Rs 2,31,070, and the registration fee at 2% would be Rs 66,020, bringing the total to Rs 2,97,090. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Elumalai Street (Vetri Nagar)?

The Sub Registrar Office that covers Elumalai Street (Vetri Nagar) is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Peravallur

The guideline value plays a crucial role in the registration process when buying or selling property in Peravallur. It serves as a benchmark to determine the minimum value at which a property can be registered. This ensures that the government receives the appropriate stamp duty and registration fees based on the guideline value or the actual sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Elumalai Street (Vetri Nagar)?

The current guideline value of Elumalai Street (Vetri Nagar) is Rs 3,301 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 325 per sq.ft in 2002 to Rs 3,301 per sq.ft in 2024, marking an overall increase of 916% over the years.

What is the land classification for Elumalai Street (Vetri Nagar)?

The land classification for Elumalai Street (Vetri Nagar) is Residential Special Type - II.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for properties in Elumalai Street (Vetri Nagar)?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% on the guideline value.