Guideline Value for ELANGO ADIGAL STREET

Elango Adigal Street guideline value

The current guideline value of Elango Adigal Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Vengathur village under the Manavalanagar SRO and is classified as Commercial Class I Type - III.

How the guideline value of Elango Adigal Street has changed

In the 2007 revision, the guideline value was Rs 150 per sq.ft. This increased significantly to Rs 1,300 per sq.ft in the 2012 revision, marking a rise of 767%. However, in the 2017 revision, the value decreased to Rs 871 per sq.ft, a drop of 33%. The subsequent revisions in 2023 and 2024 both maintained the guideline value at Rs 1,300 per sq.ft, resulting in no change between these two years.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for Elango Adigal Street. Overall, from 2007 to 2024, the guideline value has increased by 767%.

Guideline values in Vengathur

In Vengathur village, there are 186 streets under the Manavalanagar SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 2,000 per sq.ft, with a median value of Rs 1,000 per sq.ft. The guideline value of Elango Adigal Street is above this median.

• Elango Steet: Rs 1,300 per sq.ft (2024)
• Elumalai Naicker Street: Rs 1,300 per sq.ft (2024)
• Elumalai Street: Rs 600 per sq.ft (2024)
• E.A.P.Sivaji Street: Rs 1,300 per sq.ft (2024)
• Durai Kannu Street: Rs 1,300 per sq.ft (2024)
• Dr.RAMADOSS STREET: Rs 700 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 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. Please note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Elango Adigal Street?

The Sub Registrar Office that covers Elango Adigal Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Vengathur. It serves as a benchmark for calculating the stamp duty and registration fees that buyers and sellers must pay when transferring property ownership.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, preventing undervaluation. This value is particularly important for legal and tax purposes, as it affects the overall costs associated with property transactions.

Frequently asked questions

What is the current guideline value of Elango Adigal Street?

The current guideline value of Elango Adigal Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, from Rs 150 per sq.ft in 2007 to Rs 1,300 per sq.ft in both 2012 and 2024, with fluctuations in between.

What is the registration office for Elango Adigal Street?

The registration office for Elango Adigal Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

How is stamp duty calculated for properties in Vengathur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at a rate of 7%.

What is the land classification of Elango Adigal Street?

Elango Adigal Street is classified as Commercial Class I Type - III, which influences its guideline value and usage.