Guideline Value for Sri Elumalayan Nagar

Sri Elumalayan Nagar guideline value

The current guideline value of Sri Elumalayan Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Kovur village under the Kunrathur SRO and is classified as Residential Special Type - I.

How the guideline value of Sri Elumalayan Nagar has changed

The guideline value for Sri Elumalayan Nagar has undergone several revisions over the years. In 2012, the value was set at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, and then rose again to the current rate of Rs 1,650 per sq.ft in 2024, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kovur

Kovur village has 91 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, making the guideline value of Sri Elumalayan Nagar equal to the median.

• Sri D.SaiBaba Avenue: Rs 1,430 per sq.ft (2024)
• Sri Balaji Nagar: Rs 1,650 per sq.ft (2024)
• Sri Arunachalam Nagar: Rs 2,300 per sq.ft (2024)
• Sri Annai nagar: Rs 1,650 per sq.ft (2024)
• Sri Ambal Nagar Extn: Rs 1,650 per sq.ft (2024)
• Sri Ambal Nagar Annex Extension: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Elumalayan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees to Rs 1,48,500. 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 our stamp duty and registration fee calculator for assistance.

Which Sub Registrar Office covers Sri Elumalayan Nagar?

Sri Elumalayan Nagar is covered by the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. To find your SRO, you can visit find your SRO.

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

The guideline value is an essential factor in the registration process of property transactions in Kovur. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When buying or selling property, the guideline value impacts the calculation of stamp duty and registration fees, which are essential costs to consider during the transaction. This ensures that both the buyer and seller are aware of the financial obligations involved in the property transfer.

Frequently asked questions

What is the current guideline value of Sri Elumalayan Nagar?

The current guideline value of Sri Elumalayan Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification of Sri Elumalayan Nagar?

Sri Elumalayan Nagar is classified as Residential Special Type - I, indicating its suitability for residential purposes.

What are the other streets in Kovur with their guideline values?

Other streets in Kovur include Sri D.SaiBaba Avenue at Rs 1,430 per sq.ft, Sri Balaji Nagar at Rs 1,650 per sq.ft, and Sri Arunachalam Nagar at Rs 2,300 per sq.ft, among others.

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

The Kunrathur Sub Registrar Office covers Sri Elumalayan Nagar and is located at No.59, Road Street, Kundrathur, Chennai -600 069.