Guideline Value for Elumalai Street

Elumalai Street guideline value

The current guideline value of Elumalai Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village under the Tambaram Joint 1 SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Elumalai Street has changed

The guideline value for Elumalai Street has seen significant changes over the years. In the 2002 revision, the value was Rs 623 per sq.ft. This increased to Rs 1,000 per sq.ft in 2003, marking a change of +61%. The value rose further to Rs 2,500 per sq.ft in 2007, an increase of +150%. In 2012, the value was Rs 6,000 per sq.ft, which was a substantial increase of +140% from the previous revision. However, it decreased to Rs 4,020 per sq.ft in the 2017 revision, reflecting a change of -33%. The value then increased to Rs 6,000 per sq.ft in 2023, before reaching the current figure of Rs 6,600 per sq.ft in the 2024 revision, which is a change of +10%.

There are no figures available for the revisions in years not listed for this street. Overall, from 2002 to 2024, the guideline value has increased by +959%.

Guideline values in Tambaram

In Tambaram village, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft. The median value is Rs 3,300 per sq.ft, making Elumalai Street's current guideline value above this median.

• Erikarai Street: Rs 2,200 per sq.ft (2024)
• Ethirajapuram Main Road: Rs 4,400 per sq.ft (2024)
• Durgas Road: Rs 2,200 per sq.ft (2024)
• Duraiswamy Reddy St: Rs 6,600 per sq.ft (2024)
• Duraisamy Street: Rs 5,500 per sq.ft (2024)
• Doctors Colony: Rs 1,320 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 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, totaling Rs 5,94,000. 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?

The Sub Registrar Office that covers Elumalai Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Tambaram. It serves as the basis for calculating stamp duty and registration fees, which are mandatory costs associated with property transactions.

When a property is registered, the guideline value is used to determine the applicable duties, ensuring that all transactions are in accordance with the official rates set by the Registration Department. This helps maintain transparency and standardization in property dealings.

Frequently asked questions

What is the current guideline value of Elumalai Street?

The current guideline value of Elumalai Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 623 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of +959% over the years.

What is the land classification of Elumalai Street?

Elumalai Street is classified as Commercial Class I Type - II.

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

The Sub Registrar Office for Elumalai Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for properties in Elumalai Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 4,62,000.