Guideline Value for Elango Nagar

Elango Nagar guideline value

The current guideline value of Elango Nagar, located in Mannurpet village under the Konnur SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This area falls under Residential Class III Type - I.

How the guideline value of Elango Nagar has changed

The guideline value for Elango Nagar has seen several revisions over the years. In 2002, the value was Rs 172 per sq.ft, which increased to Rs 190 per sq.ft in 2003, marking a 10% rise. The value then rose significantly to Rs 400 per sq.ft in 2007, reflecting an increase of 111%. Following that, it reached Rs 1,000 per sq.ft in 2012, a substantial 150% increase from the previous revision. However, there was a decline to Rs 670 per sq.ft in 2017, which represented a 33% decrease. The value then increased again to Rs 1,000 per sq.ft in 2023, before reaching the current figure of Rs 1,100 per sq.ft in 2024, showing a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 540%. The register has no figures for the years not listed in the revisions above.

Guideline values in Mannurpet

In Mannurpet village, there are 38 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,600 per sq.ft, with a median value of Rs 1,300 per sq.ft. Elango Nagar's 2024 figure is below this median.

• Coramandal Town: Rs 5,500 per sq.ft (2024)
• Govt I.T. I Colony: Rs 1,100 per sq.ft (2024)
• Ishravel Nagar: Rs 1,100 per sq.ft (2024)
• Bajanai Koil Street: Rs 1,700 per sq.ft (2024)
• Kamaraj Nagar: Rs 1,100 per sq.ft (2024)
• Kamaraj Nagar II Street: Rs 1,100 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 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, 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 Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Mannurpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects a fair value as per the government guidelines.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legal documentation. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Elango Nagar?

The current guideline value of Elango Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 172 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, marking an overall increase of 540% over the years.

What is the land classification of Elango Nagar?

Elango Nagar is classified as Residential Class III Type - I.

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

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which office handles property registrations for Elango Nagar?

The Konnur Sub Registrar Office handles property registrations for Elango Nagar, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.