Guideline Value for Elumalaiyan Nagar

Elumalaiyan Nagar guideline value

The current guideline value of Elumalaiyan Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024. This area is located in Venkatapuram village and falls under the Kunrathur SRO, classified as Residential Special Type - I.

How the guideline value of Elumalaiyan Nagar has changed

The guideline value for Elumalaiyan Nagar has undergone several revisions over the years. The earliest recorded value was Rs 49 per sq.ft in 2002, which increased to Rs 54 per sq.ft in 2003. Following this, there was a significant rise to Rs 250 per sq.ft in 2007, and then to Rs 1,100 per sq.ft in 2012. However, this figure saw a decrease to Rs 737 per sq.ft in 2017. The value then increased to Rs 1,100 per sq.ft in 2023, and the latest revision has set it at Rs 1,200 per sq.ft in 2024.

In terms of percentage changes, the guideline value increased by 9% from 2023 to 2024. The jump from 2017 to 2023 was 49%, while there was a decrease of 33% from 2012 to 2017. The rise from 2007 to 2012 was 340%, and from 2003 to 2007, it was 363%. The increment from 2002 to 2003 was 10%. Overall, from 2002 to 2024, the guideline value has increased by 2349%.

Guideline values in Venkatapuram

In Venkatapuram, there are 68 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 1,200 per sq.ft. The median value for these streets is Rs 1,200 per sq.ft, which is equal to the current guideline value for Elumalaiyan Nagar.

• Deivasikamani Nagar Main Road: Rs 1,200 per sq.ft (2024)
• Deivasikamani Nagar 1st Cross Street: Rs 1,200 per sq.ft (2024)
• Kalaimamani K.P.Arivanandham Street: Rs 1,200 per sq.ft (2024)
• Akrakara Street Main Road: Rs 1,200 per sq.ft (2024)
• Akrakara Street 2nd Street (Left): Rs 1,200 per sq.ft (2024)
• Akrakara Street 1st Street (Left): Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Elumalaiyan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value would be Rs 12,00,000. The stamp duty at 7% would amount to Rs 84,000, and the registration fee at 2% would be Rs 24,000, making a total of Rs 1,08,000. 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 information.

Which Sub Registrar Office covers Elumalaiyan Nagar?

The Sub Registrar Office that covers Elumalaiyan Nagar 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 Venkatapuram

The guideline value is a crucial factor during the registration of property in Venkatapuram. It serves as a reference point for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Elumalaiyan Nagar?

The current guideline value of Elumalaiyan Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 49 per sq.ft in 2002 to Rs 1,200 per sq.ft in 2024, with notable changes in between.

What is the land classification of Elumalaiyan Nagar?

Elumalaiyan Nagar is classified as Residential Special Type - I under the guideline value register.

What is the stamp duty rate for properties in Elumalaiyan Nagar?

The stamp duty rate for properties in Elumalaiyan Nagar is 7% of the guideline value or sale price, whichever is higher.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.