Guideline Value for Elumalai Street, Moovendhar Nagar

Elumalai Street, Moovendhar Nagar guideline value

The current guideline value of Elumalai Street in Moovendhar Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This street falls under the Pammal SRO and is classified as Residential Class II Type - II.

How the guideline value of Elumalai Street, Moovendhar Nagar has changed

The guideline value for Elumalai Street has seen several revisions over the years. The 2017 revision set the value at Rs 1,206 per sq.ft, which increased to Rs 1,800 per sq.ft in 2023. The latest revision in 2024 has further raised the value to Rs 1,980 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

There are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street. The jump from Rs 1,206 in 2017 to Rs 1,800 in 2023 represents a significant increase of 49% over that period.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft, with a median value of Rs 2,090 per sq.ft. The guideline value of Elumalai Street is below this median.

• Elumalai Street (Thiruneermalai Salai): Rs 1,980 per sq.ft (2024)
• Elumalai Street (Thiruvallur Nagar): Rs 2,475 per sq.ft (2024)
• Elumalai Cross Street, Thiruvalluvar Nagar: Rs 2,475 per sq.ft (2024)
• Elumalai 2nd Lane (Thiruvallur Nagar): Rs 2,475 per sq.ft (2024)
• Ellango Street (Muthamazhi Nagar): Rs 2,475 per sq.ft (2024)
• Ellango Street (Hindustan Lever Colony): Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Elumalai Street, Moovendhar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total fees to Rs 1,78,200. It is important to note that 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 details.

Which Sub Registrar Office covers Elumalai Street, Moovendhar Nagar?

The Elumalai Street, Moovendhar Nagar falls under the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Pammal. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value is often used as a benchmark to assess the transaction value. This value helps in calculating the necessary fees and ensuring that the transaction is recorded accurately in the official registers.

Frequently asked questions

What is the current guideline value of Elumalai Street, Moovendhar Nagar?

The current guideline value of Elumalai Street, Moovendhar Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,206 per sq.ft in 2017 to Rs 1,800 per sq.ft in 2023, and now to Rs 1,980 per sq.ft in 2024, representing an overall increase of 64% from 2017 to 2024.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

What is the stamp duty rate for properties in Elumalai Street?

The stamp duty rate for properties in Elumalai Street is 7%, calculated on the higher of the guideline value or the sale price.

What is the land classification of Elumalai Street?

Elumalai Street is classified as Residential Class II Type - II, indicating its suitability for residential development.