Guideline Value for ELEGEN STREET

Elegen Street guideline value

The current guideline value of Elegen Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, classified as Residential Class V Type - I.

How the guideline value of Elegen Street has changed

The guideline value for Elegen Street has undergone several revisions over the years. In 2002, the value was Rs 336 per sq.ft, which increased to Rs 369 per sq.ft in 2003. Following this, the value rose significantly to Rs 500 per sq.ft in 2007, marking a 36% increase from the previous year. The value then saw a substantial jump to Rs 1,500 per sq.ft in 2012, reflecting a 200% increase from 2007. However, it decreased to Rs 1,005 per sq.ft in 2017, a decline of 33% from the 2012 figure.

In the subsequent years, the guideline value continued to rise, reaching Rs 1,500 per sq.ft in 2023, which was a 49% increase from the 2017 revision. The most recent revision in 2024 set the value at Rs 1,600 per sq.ft, representing a 7% increase from 2023. The register has no figure for Elegen Street for the years not mentioned.

Guideline values in Perambur

In Perambur village, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. Elegen Street's 2024 guideline value is below this median.

• Ekangipuram Main Road: Rs 2,700 per sq.ft (2024)
• Ekangipuram 7th Street: Rs 2,700 per sq.ft (2024)
• Ekangipuram 6th Street: Rs 2,700 per sq.ft (2024)
• Ekangipuram 5th Street: Rs 2,700 per sq.ft (2024)
• Ekangipuram 4th Street: Rs 2,700 per sq.ft (2024)
• Ekangipuram 3rd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Elegen Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. 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 more details.

Which Sub Registrar Office covers Elegen Street?

The Sub Registrar Office that covers Elegen Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property transactions in Perambur. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring that the transaction is recorded accurately in the official register.

When you buy or sell property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction. This ensures that both the buyer and seller comply with legal requirements during the property transfer process.

Frequently asked questions

What is the current guideline value of Elegen Street?

The current guideline value of Elegen Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 336 per sq.ft in 2002 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of 376% over this period.

What is the land classification for Elegen Street?

Elegen Street is classified as Residential Class V Type - I under the Purasaivakkam SRO.

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

For a 1,000 sq.ft plot, the total stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000 based on the current guideline value.

Which Sub Registrar Office covers Elegen Street?

The Purasaivakkam Sub Registrar Office covers Elegen Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.