Guideline Value for Elango 4th Cross Street

Elango 4th Cross Street guideline value

The current guideline value of Elango 4th 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, and is classified as Residential Class IV Type - I.

How the guideline value of Elango 4th Cross Street has changed

The guideline value for Elango 4th Cross Street has seen several revisions over the years. The earliest recorded figure is from the 2007 revision, which was Rs 800 per sq.ft. This increased significantly to Rs 3,750 per sq.ft in the 2012 revision, marking a 369% rise. However, it then decreased to Rs 2,512 per sq.ft in the 2017 revision, a drop of 33%. The value rose again to Rs 3,750 per sq.ft in 2023, and finally reached Rs 4,100 per sq.ft in the 2024 revision, reflecting a 9% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 413%. Notably, the register has no figures for the years 2002 and 2003 for this street.

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, placing Elango 4th Cross Street's 2024 figure below that median.

• Elango 3rd Cross Street: Rs 4,100 per sq.ft (2024)
• Elango 2nd Cross Street: Rs 4,100 per sq.ft (2024)
• Elango 1st 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 4th 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, and the registration fee at 2% would be Rs 82,000, leading to a total of Rs 3,69,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Elango 4th Cross Street?

The Sub Registrar Office that covers Elango 4th 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. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately.

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

Frequently asked questions

What is the current guideline value of Elango 4th Cross Street?

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

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 4th Cross Street.

What are the stamp duty and registration fees for property in Elango 4th Cross Street?

For a 1,000 sq.ft plot, the stamp duty would be Rs 2,87,000 and the registration fee would be Rs 82,000, totaling Rs 3,69,000 based on the current guideline value.

Which office handles property registrations for Elango 4th Cross Street?

The Ashok Nagar Sub Registrar Office handles property registrations for Elango 4th Cross Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.