Guideline Value for Elango Nagar Canal Road

Elango Nagar Canal Road guideline value

The current guideline value of Elango Nagar Canal Road is Rs 1,700 per sq.ft, effective from 1 July 2024. This road is located in Kottivakkam village, under the Adayar SRO, and is classified as Residential Class V Type - III.

How the guideline value of Elango Nagar Canal Road has changed

Over the years, the guideline value of Elango Nagar Canal Road has seen several revisions. The 2007 revision set the value at Rs 1,000 per sq.ft, which increased to Rs 1,500 per sq.ft in 2012. However, there was a significant drop to Rs 1,005 per sq.ft in the 2017 revision. The value then rose sharply to Rs 1,500 per sq.ft in 2023, and most recently, it has been revised to Rs 1,700 per sq.ft in 2024, marking a 13% increase from the previous year.

In total, from the 2007 revision to the current 2024 revision, the guideline value has increased by 70%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Kottivakkam

Kottivakkam village has a total of 284 streets under the Adayar SRO that carry a 2024 guideline value, ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, placing Elango Nagar Canal Road's 2024 figure below that median.

• Elango Nagar: Rs 3,300 per sq.ft (2024)
• ECR New Street: Rs 5,500 per sq.ft (2024)
• East Coast Road: Rs 5,500 per sq.ft (2024)
• Gandhi Nagar 1st Street: Rs 1,700 per sq.ft (2024)
• Gandhi Nagar 2nd Street: Rs 1,700 per sq.ft (2024)
• Gandhi Nagar Main Road: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Elango Nagar Canal Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty, charged at 7%, would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total fees together to Rs 1,53,000. 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 details.

Which Sub Registrar Office covers Elango Nagar Canal Road?

The Sub Registrar Office that covers Elango Nagar Canal Road is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Kottivakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a benchmark. Buyers and sellers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Elango Nagar Canal Road?

The current guideline value of Elango Nagar Canal Road is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 1,700 per sq.ft in 2024, marking an overall increase of 70% during this period.

What are the other streets in Kottivakkam and their guideline values?

Other streets in Kottivakkam include Elango Nagar at Rs 3,300 per sq.ft, ECR New Street and East Coast Road at Rs 5,500 per sq.ft, and Gandhi Nagar 1st, 2nd, and Main Road at Rs 1,700 per sq.ft.

What is the registration office for Elango Nagar Canal Road?

The registration office for Elango Nagar Canal Road is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 at 7%.