Guideline Value for Elango 1st Cross Street

Elango 1st Cross Street guideline value

The current guideline value of Elango 1st Cross Street is Rs 4,100 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO, classified as Residential Class IV Type - I.

How the guideline value of Elango 1st Cross Street has changed

The guideline value for Elango 1st Cross Street has undergone several revisions over the years. In 2007, the guideline value was Rs 800 per sq.ft, which increased significantly to Rs 3,750 per sq.ft in 2012, marking a rise of 369%. However, it then saw a decrease to Rs 2,512 per sq.ft in 2017, a drop of 33%. The value rebounded to Rs 3,750 per sq.ft in 2023, and currently stands at Rs 4,100 per sq.ft after a 9% increase in the 2024 revision.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 413%.

Guideline values in Kodambakkam

Kodambakkam village has a total of 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, which means that Elango 1st Cross Street's 2024 figure is below the median.

• Elango 2nd Cross Street: Rs 4,100 per sq.ft (2024)
• Elango 3rd Cross Street: Rs 4,100 per sq.ft (2024)
• Elango 4th Cross Street: Rs 4,100 per sq.ft (2024)
• Elango Street (Muthurangam Block): Rs 4,100 per sq.ft (2024)
• Elango Street (Thiru Nagar): Rs 4,900 per sq.ft (2024)
• Ellai Amman Koil Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Elango 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,100 per sq.ft, the total guideline value would be Rs 41,00,000. The stamp duty at 7% would amount to Rs 2,87,000, while the registration fee at 2% would be Rs 82,000. Together, the total cost for stamp duty and registration would be Rs 3,69,000. It is important to note that 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 more detailed calculations.

Which Sub Registrar Office covers Elango 1st Cross Street?

The Sub Registrar Office that covers Elango 1st Cross Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Elango 1st Cross Street?

The current guideline value of Elango 1st Cross Street is Rs 4,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 800 per sq.ft in 2007 to Rs 4,100 per sq.ft in 2024, reflecting an overall increase of 413% over this period.

What is the median guideline value in Kodambakkam?

The median guideline value in Kodambakkam is Rs 4,900 per sq.ft, which is higher than the current value of Elango 1st Cross Street.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 41,00,000, the stamp duty would be Rs 2,87,000 and the registration fee would be Rs 82,000, totaling Rs 3,69,000.

Where can I find the Sub Registrar Office for Elango 1st Cross Street?

The Sub Registrar Office for Elango 1st Cross Street is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037. You can find more information by visiting the relevant link.