Guideline Value for Elumalai Street

Elumalai Street guideline value

The current guideline value of Elumalai Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Elumalai Street has changed

The guideline value for Elumalai Street has seen several revisions over the years. In 2007, the value was Rs 450 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in 2012, marking a rise of 344%. However, the value then decreased to Rs 1,340 per sq.ft in 2017, reflecting a drop of 33%. The following revision in 2023 brought the guideline value up to Rs 2,000 per sq.ft, which was a substantial increase of 49%. The latest revision in 2024 set the guideline value at Rs 2,200 per sq.ft, representing a 10% increase from the previous year.

It is important to note that the register has no figures for Elumalai Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 389%.

Guideline values in Selaiyur

In Selaiyur village, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, which is equal to the current value of Elumalai Street.

• Elumalai Nayakakar Street: Rs 1,600 per sq.ft (2024)
• Elangovan Street: Rs 3,300 per sq.ft (2024)
• Erikkarai Street: Rs 2,900 per sq.ft (2024)
• Erikkarai Vinayagar Puram: Rs 1,600 per sq.ft (2024)
• Eista Sithi Vinayakar Koil Street: Rs 850 per sq.ft (2024)
• Eswaran Koil Street: Rs 1,300 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 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total cost for these fees Rs 1,98,000. 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 accurate calculations.

Which Sub Registrar Office covers Elumalai Street?

The Sub Registrar Office that covers Elumalai Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone.

For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Selaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, ensuring compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Elumalai Street?

The current guideline value of Elumalai Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 450 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking a total increase of 389% over the years.

What are the stamp duty and registration fees for property in Elumalai Street?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers Elumalai Street?

The Selaiyur Sub Registrar Office covers Elumalai Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

How is the guideline value determined for properties in Selaiyur?

The guideline value is determined by the Registration Department and is based on various factors, including land classification and location. It serves as a minimum value for property registration in the area.