Guideline Value for ELANGO ADIGAL STREET

Elango Adigal Street guideline value

The current guideline value of Elango Adigal Street is Rs 5,000 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village, under the Kodambakkam SRO, and falls under the Residential Class III Type - I land classification.

How the guideline value of Elango Adigal Street has changed

The guideline value for Elango Adigal Street has undergone several revisions since 2003. In 2003, the value was Rs 771 per sq.ft, which increased to Rs 1,200 per sq.ft in 2007, marking a 56% rise. The value then saw a substantial increase to Rs 4,600 per sq.ft in 2012, reflecting a 283% growth. However, it decreased to Rs 3,082 per sq.ft in 2017, a decline of 33%. The most recent revision in 2024 has brought the guideline value to Rs 5,000 per sq.ft, representing a 62% increase from 2017.

It is important to note that there are no figures available for the years 2023 and 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 549%.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median guideline value for these streets is Rs 5,800 per sq.ft, positioning Elango Adigal Street's value below this median.

• Elangaliamman Koil Street: Rs 7,100 per sq.ft (2024)
• Easwara Nagar 5th Street: Rs 4,600 per sq.ft (2024)
• Easwara Nagar 4th Street: Rs 4,600 per sq.ft (2024)
• Easwara Nagar 3rd Street: Rs 6,300 per sq.ft (2024)
• Easwara Nagar 2nd Street: Rs 4,600 per sq.ft (2024)
• Easwara Nagar 1st Street: Rs 4,600 per sq.ft (2024)

Stamp duty and registration fee for property in Elango Adigal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value would be Rs 50,00,000. The stamp duty at 7% would amount to Rs 3,50,000, while the registration fee at 2% would be Rs 1,00,000, bringing the total to Rs 4,50,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Elango Adigal Street?

The Sub Registrar Office that covers Elango Adigal Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process of property transactions in Puliyur. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When buying or selling property, it is essential to be aware of the guideline value, as it directly impacts the financial obligations during the registration process. Ensuring that you are informed about the current guideline value can help in planning your budget effectively.

Frequently asked questions

What is the current guideline value of Elango Adigal Street?

The current guideline value of Elango Adigal Street is Rs 5,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 771 per sq.ft in 2003 to Rs 5,000 per sq.ft in 2024, reflecting an overall increase of 549% over the years.

What is the median guideline value for streets in Puliyur?

The median guideline value for the 648 streets in Puliyur is Rs 5,800 per sq.ft, which is higher than the current value of Elango Adigal Street.

What are the stamp duty and registration fees for property in Elango Adigal Street?

For a property valued at Rs 50,00,000, the stamp duty would be Rs 3,50,000, and the registration fee would be Rs 1,00,000, totaling Rs 4,50,000.

Which office handles registrations for Elango Adigal Street?

The Kodambakkam Sub Registrar Office handles registrations for Elango Adigal Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.