Guideline Value for Elumalai Street

Elumalai Street guideline value

The current guideline value of Elumalai Street is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is located in Porur village under the Kunrathur SRO, classified as Residential Special Type - II.

How the guideline value of Elumalai Street has changed

The guideline value for Elumalai Street has undergone several revisions over the years. The earliest recorded value is from 2012, which was Rs 3,200 per sq.ft. This was followed by a decrease to Rs 2,144 per sq.ft in 2017. The value then increased significantly to Rs 3,200 per sq.ft in 2023, and currently stands at Rs 3,520 per sq.ft from the 2024 revision, reflecting a 10% increase from the previous year.

Between the revisions, the guideline value saw a 49% increase from 2017 to 2023. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 2,860 to Rs 6,380 per sq.ft, with a median value of Rs 3,960 per sq.ft. The guideline value of Elumalai Street is below this median.

• Eswaran koil 1st Street: Rs 4,290 per sq.ft (2024)
• Eswaran koil 2nd Street: Rs 4,290 per sq.ft (2024)
• Eswaran koil 3rd Street: Rs 4,290 per sq.ft (2024)
• Eswaran koil 4th Street: Rs 4,290 per sq.ft (2024)
• Eswaran Koil Back Side Lane: Rs 4,290 per sq.ft (2024)
• Eswaran Koil Lane: Rs 4,290 per sq.ft (2024)

Stamp duty and registration fee for property in Elumalai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total fees to Rs 3,16,800. 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 information on calculating these fees.

Which Sub Registrar Office covers Elumalai Street?

The Sub Registrar Office that covers Elumalai Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value serves as a benchmark for property transactions in Porur. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these fees are calculated based on a standardized value.

It is essential for buyers and sellers to be aware of the guideline value as it impacts the overall costs associated with property transactions. Understanding this value can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Elumalai Street?

The current guideline value of Elumalai Street is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent increase of 10% from Rs 3,200 per sq.ft in 2023 to Rs 3,520 per sq.ft in 2024.

What is the land classification of Elumalai Street?

Elumalai Street is classified as Residential Special Type - II under the Kunrathur SRO.

Where can I find the registration office for Elumalai Street?

The registration office for Elumalai Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in Elumalai Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a total stamp duty of Rs 2,46,400.