Guideline Value for Elango Nagar

Elango Nagar guideline value

The current guideline value of Elango Nagar is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Menambedu village under the Ambattur SRO, classified as Residential Special Type - I.

How the guideline value of Elango Nagar has changed

Since the 2012 revision, the guideline value for Elango Nagar has seen significant changes. In 2012, the value was Rs 1,600 per sq.ft, which dropped to Rs 1,072 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value increased by 49%, reaching Rs 1,600 per sq.ft, and then rose again to Rs 1,700 per sq.ft in the 2024 revision, reflecting a 6% increase.

The register does not have figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 6%.

Guideline values in Menambedu

In Menambedu, there are 171 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 6,680 per sq.ft. The median guideline value for these streets is Rs 1,003 per sq.ft, and Elango Nagar's current figure of Rs 1,700 per sq.ft is above this median.

• Ekampara Nagar: Rs 1,002 per sq.ft (2024)
• Ekambaram Nagar Extention: Rs 1,001 per sq.ft (2024)
• D.S.P. Colony: Rs 1,000 per sq.ft (2024)
• Ganapathi Nagar: Rs 1,002 per sq.ft (2024)
• Gandhi 1 Street (Elangonagar): Rs 1,700 per sq.ft (2024)
• Gandhi 2 Street (Elangonagar): 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 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Elango Nagar?

The Sub Registrar Office that covers Elango Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor during property registration in Menambedu, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to calculate the applicable stamp duty and registration fees.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to determine the stamp duty. This ensures that the transaction is registered accurately and complies with the legal requirements.

Frequently asked questions

What is the current guideline value of Elango Nagar?

The current guideline value of Elango Nagar 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 1,600 per sq.ft in 2023 to Rs 1,700 per sq.ft in 2024, marking a 6% increase. It was Rs 1,072 per sq.ft in 2017, showing a 49% increase from that year to 2023.

What is the land classification for Elango Nagar?

Elango Nagar is classified as Residential Special Type - I, indicating its suitability for residential purposes under the Ambattur SRO.

What are the stamp duty rates applicable in Elango Nagar?

The stamp duty rate applicable in Elango Nagar is 7% of the guideline value or sale price, whichever is higher. Additionally, a registration fee of 2% is charged on the same basis.

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

The Sub Registrar Office for Elango Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.