Guideline Value for Elumalai Street

Elumalai Street guideline value

The current guideline value of Elumalai Street in Issa Pallavaram village is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class I Type - II.

How the guideline value of Elumalai Street has changed

The guideline value for Elumalai Street has seen several revisions over the years. The earliest recorded figure is from 2003, where the value was Rs 873 per sq.ft. This increased to Rs 900 per sq.ft in 2007, followed by a significant jump to Rs 3,000 per sq.ft in 2012. However, between 2012 and 2017, the value decreased to Rs 2,010 per sq.ft. The 2023 revision set the value at Rs 3,000 per sq.ft, and the most recent 2024 revision has increased it to Rs 3,300 per sq.ft, marking a 10% rise from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 278%. The register does not have a figure for Elumalai Street for the year 2002.

Guideline values in Issa Pallavaram

In Issa Pallavaram, there are 110 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value is Rs 3,300 per sq.ft, which is the same as the guideline value for Elumalai Street.

• Easwari Main Road: Rs 3,850 per sq.ft (2024)
• Easwari Main Cross Road: Rs 3,300 per sq.ft (2024)
• Fathima Manzal Street: Rs 2,200 per sq.ft (2024)
• Dharga Road (PART): Rs 3,850 per sq.ft (2024)
• Gandhi Street: Rs 3,300 per sq.ft (2024)
• Ganesan Street: Rs 2,200 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 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Elumalai Street?

The Sub Registrar Office that covers Elumalai Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Issa Pallavaram. It is used to determine the applicable stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When buying or selling property, it is essential to be aware of the current guideline value to ensure compliance with the legal requirements during registration. This helps in understanding the financial implications of the transaction, including the costs involved in the registration process.

Frequently asked questions

What is the current guideline value of Elumalai Street?

The current guideline value of Elumalai Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 873 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 278% over the years.

What is the role of the guideline value in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It is based on either the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Elumalai Street?

The Sub Registrar Office for Elumalai Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What are the other streets with guideline values in Issa Pallavaram?

Other streets in Issa Pallavaram include Easwari Main Road, Easwari Main Cross Road, Fathima Manzal Street, Dharga Road (PART), Gandhi Street, and Ganesan Street, with varying guideline values.