Guideline Value for Elango Nagar Annexe

Elango Nagar Annexe guideline value

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

How the guideline value of Elango Nagar Annexe has changed

The guideline value for Elango Nagar Annexe has seen several revisions over the years. The earliest recorded value was Rs 1,100 per sq.ft in 2007, which increased significantly to Rs 5,000 per sq.ft in 2012. However, this value then decreased to Rs 3,350 per sq.ft in 2017. Following this, the value rose to Rs 5,000 per sq.ft in 2023, and the most recent revision has set the value at Rs 5,500 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 400%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Virugambakkam

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

• Elango Nagar 5th Street: Rs 5,500 per sq.ft (2024)
• Elango Nagar 4th Street: Rs 5,500 per sq.ft (2024)
• Elango Nagar Main Road: Rs 5,500 per sq.ft (2024)
• Elango Nagar 3rd Street: Rs 5,500 per sq.ft (2024)
• Elango Nagar South: Rs 5,500 per sq.ft (2024)
• Elango Nagar 2nd Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Elango Nagar Annexe

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, and the registration fee at 2% would be Rs 1,10,000, leading to a total of Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Elango Nagar Annexe?

The Elango Nagar Annexe area falls under 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 a critical factor when registering property transactions in Virugambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the registration process reflects the current market conditions.

When buying or selling property, the guideline value impacts the stamp duty and registration fees that are applicable. Buyers should be aware that these costs are calculated based on the guideline value or the sale price, whichever is higher, ensuring transparency in the transaction process.

Frequently asked questions

What is the current guideline value of Elango Nagar Annexe?

The current guideline value of Elango Nagar Annexe 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 1,100 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, showing an overall increase of 400% over the years.

What is the stamp duty rate in Elango Nagar Annexe?

The stamp duty rate for property transactions in Elango Nagar Annexe is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Elango Nagar Annexe?

The Sub Registrar Office covering Elango Nagar Annexe is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What are the guideline values of other streets in Virugambakkam?

Other streets in Virugambakkam have a guideline value of Rs 5,500 per sq.ft in 2024, including Elango Nagar 5th Street, Elango Nagar 4th Street, Elango Nagar Main Road, Elango Nagar 3rd Street, Elango Nagar South, and Elango Nagar 2nd Street.