Guideline Value for Sri Elumalaiyan Nagar

Sri Elumalaiyan Nagar guideline value

The current guideline value of Sri Elumalaiyan Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Zaminpallavaram village under the Pallavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Sri Elumalaiyan Nagar has changed

The guideline value for Sri Elumalaiyan Nagar has seen significant changes over the years. In the 2007 revision, the value was Rs 600 per sq.ft, which increased to Rs 2,500 per sq.ft in the 2012 revision, marking a substantial rise of 317%. The most recent revision in 2024 set the guideline value at Rs 2,750 per sq.ft, reflecting a 10% increase from the 2012 figure.

It is important to note that there are no figures available for the revisions in 2023, 2017, 2003, and 2002 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 358%.

Guideline values in Zaminpallavaram

Zaminpallavaram village has a total of 638 streets under the Pallavaram SRO, with 2024 guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Sri Elumalaiyan Nagar's 2024 figure below that median.

• Sri Ganapathy Nagar: Rs 3,520 per sq.ft (2024)
• Sridevi Nagar: Rs 3,300 per sq.ft (2024)
• Sridevi Amman Street: Rs 2,160 per sq.ft (2024)
• Sri Bharath Nagar: Rs 2,750 per sq.ft (2024)
• Sri Badhrakaliamman Nagar: Rs 3,300 per sq.ft (2024)
• Srinivasa Cross Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Elumalaiyan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, making the total cost for these fees Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sri Elumalaiyan Nagar?

The Sub Registrar Office that covers Sri Elumalaiyan Nagar 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 additional information.

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

The guideline value plays a crucial role during the registration of property transactions in Zaminpallavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to understand that the guideline value will be considered alongside the sale price. The higher of the two will determine the stamp duty and registration fees applicable to the transaction.

Frequently asked questions

What is the current guideline value of Sri Elumalaiyan Nagar?

The current guideline value of Sri Elumalaiyan Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2007?

Since 2007, the guideline value has increased from Rs 600 per sq.ft to Rs 2,750 per sq.ft in 2024, which is an overall increase of 358%.

What is the stamp duty rate for property in Sri Elumalaiyan Nagar?

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

Where can I find the Sub Registrar Office for Sri Elumalaiyan Nagar?

The Sub Registrar Office for Sri Elumalaiyan Nagar is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the median guideline value for streets in Zaminpallavaram?

The median guideline value for streets in Zaminpallavaram is Rs 3,300 per sq.ft, with Sri Elumalaiyan Nagar's value being below this median.