Guideline Value for Elumalai Street Block 93(S.P)

Elumalai Street Block 93(S.P) guideline value

The current guideline value for Elumalai Street Block 93(S.P) is Rs 4,900 per sq.ft. This property is located in Kodambakkam village, under the Ashok Nagar SRO, and is classified as Residential Class III Type - II.

How the guideline value of Elumalai Street Block 93(S.P) has changed

The guideline value for Elumalai Street Block 93(S.P) has seen several revisions over the years. The 2017 revision recorded a value of Rs 3,015 per sq.ft, which increased to Rs 4,500 per sq.ft in the 2023 revision, marking a significant rise of 49%. In the latest 2024 revision, the guideline value further increased to Rs 4,900 per sq.ft, which is a 9% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 63%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, which aligns with the guideline value of Elumalai Street Block 93(S.P).

• Elumalai Naicker Street (JPT): Rs 4,100 per sq.ft (2024)
• Ellamuthamman Koil 2nd Street(V.P): Rs 4,900 per sq.ft (2024)
• Ellamuthamman Koil 1st Street (V.P): Rs 4,900 per sq.ft (2024)
• Ellai Amman Koil Street: Rs 4,900 per sq.ft (2024)
• Erikkarai Road Block 61 (Lakeview Road): Rs 6,000 per sq.ft (2024)
• Erikkarai Street (NP): Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Elumalai Street Block 93(S.P)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total to Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Elumalai Street Block 93(S.P)?

The Sub Registrar Office covering Elumalai Street Block 93(S.P) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Kodambakkam. When buying or selling property, the guideline value serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately in the government records.

It is essential for buyers and sellers to be aware of the guideline value, as it can influence the overall cost of the transaction. The registration process requires that the property be registered at the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value for Elumalai Street Block 93(S.P)?

The current guideline value for Elumalai Street Block 93(S.P) is Rs 4,900 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed from 2017 to 2024?

From 2017 to 2024, the guideline value for Elumalai Street Block 93(S.P) has increased by 63%, rising from Rs 3,015 per sq.ft to Rs 4,900 per sq.ft.

What is the stamp duty rate for property in Kodambakkam?

The stamp duty rate for property transactions in Kodambakkam is 7%, which is calculated on the higher of the guideline value or the sale price.

Where is the Ashok Nagar Sub Registrar Office located?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

What is the median guideline value for streets in Kodambakkam?

The median guideline value for streets in Kodambakkam under the Ashok Nagar SRO is Rs 4,900 per sq.ft, which is the same as the guideline value for Elumalai Street Block 93(S.P).