Guideline Value for Elango Nagar 3rd Street

Elango Nagar 3rd Street guideline value

The current guideline value of Elango Nagar 3rd Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village, under the Virugambakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Elango Nagar 3rd Street has changed

The guideline value for Elango Nagar 3rd Street has seen several revisions over the years. In 2002, the guideline value was Rs 351 per sq.ft. This increased to Rs 389 per sq.ft in 2003, marking an increase of 11%. The value further rose significantly to Rs 1,100 per sq.ft in 2007, reflecting a substantial increase of 183%. In 2012, the value was recorded at Rs 5,000 per sq.ft, which was a notable increase of 355% from the previous revision. However, this figure dropped to Rs 3,350 per sq.ft in 2017, representing a decrease of 33%.

From 2017 to 2023, the guideline value increased to Rs 5,000 per sq.ft, which was a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 5,500 per sq.ft, showing a 10% increase from the previous year. There are no figures available for the revisions in years not mentioned in the register for Elango Nagar 3rd Street.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Elango Nagar 3rd Street's 2024 figure above this median.

• Elango Nagar 2nd Street: Rs 5,500 per sq.ft (2024)
• Elango Nagar 4th Street: Rs 5,500 per sq.ft (2024)
• Elango Nagar 1st Street: Rs 5,500 per sq.ft (2024)
• Elango Nagar 5th Street: Rs 5,500 per sq.ft (2024)
• Elango Nagar Annexe: Rs 5,500 per sq.ft (2024)
• Elango Nagar Main Road: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Elango Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000. Together, the total cost for stamp duty and registration would be Rs 4,95,000. Please note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Elango Nagar 3rd Street?

The Sub Registrar Office covering Elango Nagar 3rd Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is an essential factor when buying or selling property in Virugambakkam. It is used to determine the stamp duty and registration fees applicable during the registration process. Buyers and sellers should be aware that the guideline value may influence the overall transaction costs.

When a property is registered, the guideline value serves as a benchmark for calculating the necessary fees. It ensures that the registration process is standardized and transparent, reflecting the property's value as determined by the local authorities.

Frequently asked questions

What is the current guideline value of Elango Nagar 3rd Street?

The current guideline value of Elango Nagar 3rd Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 351 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, representing an overall increase of 1467% over the years.

What is the land classification for Elango Nagar 3rd Street?

Elango Nagar 3rd Street is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for a property in Elango Nagar 3rd Street?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000 for both.

Which Sub Registrar Office covers this area?

The Virugambakkam Sub Registrar Office covers Elango Nagar 3rd Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.