Guideline Value for ELANGO NAGAR 3rd STREET

ELANGO NAGAR 3rd STREET guideline value

The current guideline value of ELANGO NAGAR 3rd STREET is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Padi village under the Villivakkam SRO, classified as Residential Class III Type - III.

How the guideline value of ELANGO NAGAR 3rd STREET has changed

The guideline value for ELANGO NAGAR 3rd STREET has seen significant changes over the years. In 2007, the guideline value was Rs 850 per sq.ft, which increased dramatically to Rs 4,000 per sq.ft in 2012, marking a rise of 371%. However, it then decreased to Rs 2,680 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 4,000 per sq.ft in 2023, and most recently, it increased to Rs 4,400 per sq.ft in 2024, reflecting a growth of 10% from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 418%. It is important to note that the register has no figures for this street in the years 2002 and 2003.

Guideline values in Padi

In Padi village, there are 354 streets under the Villivakkam SRO, with guideline values ranging from Rs 2,200 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 3,800 per sq.ft, and ELANGO NAGAR 3rd STREET's 2024 value is above that median.

• ELANGO NAGAR 2nd STREET: Rs 4,400 per sq.ft (2024)
• Elango Nagar 4th Street: Rs 4,400 per sq.ft (2024)
• ELANGO NAGAR 1st STREET: Rs 4,400 per sq.ft (2024)
• Elango Nagar: Rs 4,400 per sq.ft (2024)
• ELANGO NAGAR MAIN ROAD (Moorthy Nagar Main Road): Rs 4,400 per sq.ft (2024)
• Elumalai Nagar: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in ELANGO NAGAR 3rd STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. 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 NAGAR 3rd STREET?

ELANGO NAGAR 3rd STREET falls under the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Padi. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees payable. This ensures that the government receives the appropriate revenue from property transactions.

It is important for buyers and sellers to be aware of the guideline value, as it can influence the overall cost of the transaction. Accurate knowledge of the guideline value helps in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of ELANGO NAGAR 3rd STREET?

The current guideline value of ELANGO NAGAR 3rd STREET is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 850 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, with several fluctuations in between, including a decrease in 2017.

What is the stamp duty for property in ELANGO NAGAR 3rd STREET?

The stamp duty for property in ELANGO NAGAR 3rd STREET is 7% of the guideline value or sale price, whichever is higher.

Which office handles registrations for ELANGO NAGAR 3rd STREET?

The Villivakkam Sub Registrar Office handles registrations for ELANGO NAGAR 3rd STREET, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification of ELANGO NAGAR 3rd STREET?

ELANGO NAGAR 3rd STREET is classified as Residential Class III Type - III.