Guideline Value for ELANGO STEET

Elango Steet guideline value

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

How the guideline value of Elango Steet has changed

The guideline value for Elango Steet has undergone several revisions over the years. The earliest recorded revision in 2007 set the value at Rs 150 per sq.ft, which increased significantly to Rs 1,300 per sq.ft in 2012. However, this value dropped to Rs 871 per sq.ft in 2017, before remaining at Rs 1,300 per sq.ft in both the 2023 and 2024 revisions. Notably, the register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, the value saw a substantial increase of 49%. The jump from 2007 to 2012 was a remarkable 767%, and overall, from 2007 to 2024, the increase is also 767%. The value has remained stable at Rs 1,300 per sq.ft since the 2023 revision.

Guideline values in Vengathur

In Vengathur village, there are 186 streets under the Manavalanagar SRO that have 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. Elango Steet's 2024 figure of Rs 1,300 per sq.ft is above this median.

• Elango Adigal Street: 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 Steet

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important 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 precise calculations.

Which Sub Registrar Office covers Elango Steet?

The Sub Registrar Office that covers Elango Steet 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 critical factor in the registration process of property transactions in Vengathur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling a property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Elango Steet?

The current guideline value of Elango Steet 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 several changes, with significant increases from Rs 150 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2012, and it remained at Rs 1,300 per sq.ft in 2023 and 2024.

What is the land classification of Elango Steet?

Elango Steet is classified as Commercial Class I Type - III, indicating its suitability for commercial activities.

Where can I find the Sub Registrar Office for Elango Steet?

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

How is the stamp duty calculated for properties in Elango Steet?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft property at the guideline value of Rs 1,300 per sq.ft would incur a total guideline value of Rs 13,00,000, leading to a stamp duty of Rs 91,000.