Guideline Value for Elango Adigal Street

Elango Adigal Street guideline value

The current guideline value of Elango Adigal Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Palavanthangal village, under the Alandur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Elango Adigal Street has changed

The guideline value for Elango Adigal Street has seen several revisions over the years. In the 2007 revision, the value was Rs 750 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012, marking a rise of 367%. However, the value decreased to Rs 2,345 per sq.ft in the 2017 revision, representing a decline of 33%. The subsequent revision in 2023 brought the value back up to Rs 3,500 per sq.ft, and the latest revision in 2024 set the value at Rs 3,900 per sq.ft, which is an increase of 11% from the previous year.

There are no figures available for Elango Adigal Street in the 2002 and 2003 revisions. Overall, from 2007 to 2024, the guideline value has increased by 420%.

Guideline values in Palavanthangal

In Palavanthangal village, there are 95 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value is Rs 3,900 per sq.ft, which means that Elango Adigal Street's 2024 figure aligns with this median.

• Dr Ambethkar Colony 2nd Street: Rs 2,200 per sq.ft (2024)
• Dr Ambethkar Colony 2nd Lane: Rs 2,200 per sq.ft (2024)
• Dr Ambethkar Colony 1st Street: Rs 2,200 per sq.ft (2024)
• Dr Ambethkar Colony 1st Lane: Rs 2,200 per sq.ft (2024)
• Gandhi Road/Gandhi Salai: Rs 3,900 per sq.ft (2024)
• Gandhi Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Elango Adigal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, leading to a total of Rs 3,51,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Elango Adigal Street?

The Sub Registrar Office that covers Elango Adigal Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Palavanthangal, the guideline value is used to calculate stamp duty and registration fees, ensuring that these costs are based on the official valuation rather than the negotiated sale price.

It is essential for buyers and sellers to be aware of the current guideline value, as it impacts the overall expenses involved in the transaction. Understanding the guideline value helps in making informed decisions during property dealings in the area.

Frequently asked questions

What is the current guideline value of Elango Adigal Street?

The current guideline value of Elango Adigal Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2007 to Rs 3,900 per sq.ft in 2024, marking an overall increase of 420% across the years.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which office handles registrations for Elango Adigal Street?

The Alandur Sub Registrar Office handles registrations for Elango Adigal Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum registration value for properties and is essential for calculating stamp duty and registration fees during property transactions.