Guideline Value for Elango 2nd Cross Street

Elango 2nd Cross Street guideline value

The current guideline value of Elango 2nd Cross Street is Rs 4,100 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, classified as Residential Class IV Type - I.

How the guideline value of Elango 2nd Cross Street has changed

Starting from the oldest revision, the guideline value for Elango 2nd Cross Street was Rs 800 per sq.ft in 2007. It then saw a significant increase to Rs 3,750 per sq.ft in 2012, marking a rise of 369%. However, from 2012 to 2017, the value decreased to Rs 2,512 per sq.ft, a drop of 33%. The value then increased again to Rs 3,750 per sq.ft in 2023, representing a 49% increase. Finally, the current revision in 2024 has set the guideline value at Rs 4,100 per sq.ft, reflecting a 9% increase from the previous year.

The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, making the 2024 figure for Elango 2nd Cross Street below this median.

• Elango 1st 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 2nd 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 amounts to Rs 41,00,000. The stamp duty at 7% would be Rs 2,87,000, and the registration fee at 2% would be Rs 82,000, totaling Rs 3,69,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Elango 2nd Cross Street?

The Elango 2nd Cross Street falls under the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Kodambakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations and to calculate applicable duties and fees.

When a property is sold, the registration office uses the guideline value to assess stamp duty and registration fees. This ensures that all transactions are conducted transparently and fairly, based on the officially recognized value of the property.

Frequently asked questions

What is the current guideline value of Elango 2nd Cross Street?

The current guideline value of Elango 2nd 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 from Rs 800 per sq.ft in 2007 to Rs 4,100 per sq.ft in 2024, reflecting an overall increase of 413% over the years.

What is the registration office for Elango 2nd Cross Street?

The registration office for Elango 2nd Cross Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Elango 2nd Cross Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 41,00,000, the stamp duty would be Rs 2,87,000.

What are the other streets in Kodambakkam with similar guideline values?

Other streets in Kodambakkam with similar guideline values include Elango 1st Cross Street, Elango 3rd Cross Street, and Elango 4th Cross Street, all valued at Rs 4,100 per sq.ft in 2024.