Guideline Value for V.Elumalai Naicker Nagar

V.Elumalai Naicker Nagar guideline value

The current guideline value of V.Elumalai Naicker Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Sundaracholavaram village under the Kunrathur SRO and is classified as Residential Class II Type - I.

How the guideline value of V.Elumalai Naicker Nagar has changed

The guideline value for V.Elumalai Naicker Nagar has seen several revisions over the years. The earliest recorded figure is from 2007, which was Rs 175 per sq.ft. This increased significantly to Rs 500 per sq.ft in 2012, marking a 186% rise. However, it then decreased to Rs 335 per sq.ft in 2017, which is a decline of 33%. The value rose again to Rs 500 per sq.ft in 2023 and then reached Rs 550 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, the value increased by 49%. Overall, from the 2007 revision to the current 2024 figure, there has been a substantial increase of 214%. It is important to note that there are no recorded figures for the years 2002 and 2003 for this street.

Guideline values in Sundaracholavaram

Sundaracholavaram village has a total of 57 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 4,600 per sq.ft. The median guideline value in this area is Rs 660 per sq.ft, placing V.Elumalai Naicker Nagar's 2024 figure below that median.

• Transport Traffic Supervisor Nagar: Rs 880 per sq.ft (2024)
• Yathawal street upto Avadi Paruthipattu: Rs 660 per sq.ft (2024)
• ThiruNageswaram Colony M.G.R. Nagar: Rs 660 per sq.ft (2024)
• Sundharavinayagar Nagar Annex: Rs 1,065 per sq.ft (2024)
• Sundara Vinayagar Nagar: Rs 550 per sq.ft (2024)
• Sundarasolpuram Mettu Street: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in V.Elumalai Naicker Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, making the total charges Rs 49,500. 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 V.Elumalai Naicker Nagar?

The Sub Registrar Office that covers V.Elumalai Naicker Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Sundaracholavaram. It is the minimum value set by the government, which helps determine the stamp duty and registration fees applicable during the transaction.

When a property is sold, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government collects appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of V.Elumalai Naicker Nagar?

The current guideline value of V.Elumalai Naicker Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 175 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, reflecting an overall increase of 214% over the years.

What are the stamp duty and registration fees for property in V.Elumalai Naicker Nagar?

For a 1,000 sq.ft plot, the total guideline value is Rs 5,50,000, with a stamp duty of Rs 38,500 and a registration fee of Rs 11,000, totaling Rs 49,500.

Which office handles property registrations in V.Elumalai Naicker Nagar?

The Kunrathur Sub Registrar Office handles property registrations for V.Elumalai Naicker Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the guideline value determined?

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