Guideline Value for Elango Nagar

Elango Nagar guideline value

The current guideline value of Elango Nagar, located in Kottivakkam village under the Adayar SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of Elango Nagar has changed

Over the years, the guideline value of Elango Nagar has seen significant changes. In the 2003 revision, the value was Rs 500 per sq.ft, which increased to Rs 1,000 per sq.ft in 2007, marking a 100% rise. The value then surged by 200% to reach Rs 3,000 per sq.ft in 2012. However, from 2012 to 2017, there was a decrease of 33%, bringing the value down to Rs 2,010 per sq.ft. The subsequent revision in 2023 saw an increase of 49%, raising the value to Rs 3,000 per sq.ft, which was then further increased by 10% to Rs 3,300 per sq.ft in the 2024 revision.

It is important to note that there is no figure for Elango Nagar in the 2002 revision. Overall, from 2003 to 2024, the guideline value has increased by 560%.

Guideline values in Kottivakkam

In Kottivakkam, there are 284 streets under the Adayar SRO with a 2024 guideline value ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, placing Elango Nagar's 2024 figure below the median.

• Elango Nagar Canal Road: Rs 1,700 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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Elango Nagar?

The Sub Registrar Office that covers Elango Nagar 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 plays a crucial role in the registration process of property transactions in Kottivakkam. It is used to determine the stamp duty and registration fees that buyers and sellers must pay when completing a property transaction. The guideline value is set by the government and is periodically revised to reflect changes in the real estate market.

When buying or selling property, it is essential to be aware of the current guideline value, as it can significantly impact the overall cost of the transaction. Buyers should ensure that they are prepared for the associated fees based on the guideline value, which is often higher than the actual sale price.

Frequently asked questions

What is the current guideline value of Elango Nagar?

The current guideline value of Elango Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 500 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 560% over this period.

Where can I find the registration office for Elango Nagar?

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

What are the stamp duty and registration fees for property in Elango Nagar?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

How does the guideline value affect property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It is essential for buyers and sellers to understand the current guideline value to prepare for the associated costs.