Guideline Value for ELANGO STREET

Elango Street guideline value

The current guideline value of Elango Street in Vanagaram village is Rs 1,320 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - II.

How the guideline value of Elango Street has changed

The guideline value for Elango Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,200 per sq.ft in the 2023 revision, and finally rose to Rs 1,320 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the change was a notable 49% increase. When looking at the overall change from 2012 to 2024, the guideline value has increased by 10%. The revisions for the years 2002, 2003, and 2007 do not have figures listed for Elango Street in the register.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 770 to Rs 5,500 per sq.ft. The median value for these streets is Rs 1,660 per sq.ft, indicating that Elango Street's 2024 figure is below that median.

• Ganapathy Nagar: Rs 1,660 per sq.ft (2024)
• Ganapathy Nagar /Annex: Rs 1,660 per sq.ft (2024)
• Dharmaraj Nagar 1 To 4 Streets: Rs 1,660 per sq.ft (2024)
• Dharmaraja Nagar: Rs 1,320 per sq.ft (2024)
• Dharmaraja Main Road: Rs 1,660 per sq.ft (2024)
• Dharmaraja Koil Street: Rs 1,660 per sq.ft (2024)

Stamp duty and registration fee for property in Elango Street

For a 1,000 sq.ft plot at the current rate of Rs 1,320 per sq.ft, the guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Elango Street?

The Sub Registrar Office that covers Elango Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vanagaram. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. The value is set by the government and is updated periodically to reflect changes in the market.

When a property is registered, the guideline value is considered along with the sale price. The higher of the two values 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 Street?

The current guideline value of Elango Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Elango Street?

Elango Street is classified as Residential Class IV Type - II under the Chennai South Joint I SRO.

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

The Sub Registrar Office for Elango Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.

How is the stamp duty calculated for property in Elango Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft would incur a total stamp duty and registration fee of Rs 1,18,800.