Guideline Value for ELANGO STREET

Elango Street guideline value

The current guideline value of Elango Street, located in Nanmangalam village under the Pallavaram SRO, is Rs 1,960 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Elango Street has changed

The guideline value for Elango Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,960 per sq.ft, an increase from Rs 1,800 per sq.ft in 2023, marking a change of +9%. Prior to that, the 2017 revision listed the value at Rs 1,206 per sq.ft, indicating a significant increase of +49% to the 2023 figure. The 2012 revision recorded the value at Rs 1,800 per sq.ft, which was a decrease of -33% from the 2017 revision. Overall, from 2012 to 2024, the guideline value has increased by +9%.

The register has no figures for the years 2002, 2003, and 2007 for this street. This lack of data means that the changes in guideline value for those years are not available.

Guideline values in Nanmangalam

Nanmangalam village has a total of 139 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 1,960 to Rs 3,850 per sq.ft. The median guideline value for these streets is Rs 2,750 per sq.ft, placing Elango Street's 2024 figure below that median.

• Elumalai Salai: Rs 2,750 per sq.ft (2024)
• Elumalai Salai 1 To 7 Streets: Rs 2,750 per sq.ft (2024)
• Durga Nagar 1 To 4 Street: Rs 1,980 per sq.ft (2024)
• Durga Nagar: Rs 1,980 per sq.ft (2024)
• Dr. Ambedkar Street: Rs 2,750 per sq.ft (2024)
• Friends Avenue: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Elango Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,960 per sq.ft, the total guideline value would be Rs 19,60,000. The stamp duty at 7% would amount to Rs 1,37,200, and the registration fee at 2% would be Rs 39,200, bringing the total to Rs 1,76,400. It is important to note that 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 more precise calculations.

Which Sub Registrar Office covers Elango Street?

The Sub Registrar Office that covers Elango Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

To find more details about other offices, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nanmangalam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the transaction is recorded at a value that reflects the current market conditions as determined by the local authorities.

Frequently asked questions

What is the current guideline value of Elango Street?

The current guideline value of Elango Street is Rs 1,960 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2023 to Rs 1,960 per sq.ft in 2024, which is a +9% increase. It was Rs 1,206 per sq.ft in 2017 and Rs 1,800 per sq.ft in 2012.

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

For a property valued at Rs 19,60,000, the stamp duty would be Rs 1,37,200 and the registration fee would be Rs 39,200, totaling Rs 1,76,400.

Which office handles property registrations for Elango Street?

The Pallavaram Sub Registrar Office handles property registrations for Elango Street, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.

What is the land classification for Elango Street?

Elango Street is classified as Residential Class II Type - I, indicating its designation for residential purposes.