Guideline Value for Elango Salai 70 Feet Street

Elango Salai 70 Feet Street guideline value

The current guideline value of Elango Salai 70 Feet Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village, under the Sembiam SRO, and is classified as Commercial Special Type - III.

How the guideline value of Elango Salai 70 Feet Street has changed

The guideline value for Elango Salai 70 Feet Street has undergone several revisions over the years. The earliest recorded figure is from 2007, when it was Rs 1,400 per sq.ft. This value increased significantly to Rs 4,500 per sq.ft in 2012, marking a rise of 221%. However, it then decreased to Rs 3,015 per sq.ft in 2017, which was a decline of 33%. The value saw a substantial increase to Rs 4,500 per sq.ft in 2023, followed by another rise to Rs 4,900 per sq.ft in 2024, reflecting a change of 9% from the previous year.

There are no recorded figures for Elango Salai 70 Feet Street in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 250%.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft, with a median value of Rs 3,301 per sq.ft. Elango Salai 70 Feet Street's 2024 guideline value is above this median.

• Elumalai Street (George Colony): Rs 4,200 per sq.ft (2024)
• Elumalai Street (Vetri Nagar): Rs 3,301 per sq.ft (2024)
• E.S.I. Hospital Street: Rs 3,301 per sq.ft (2024)
• DuraiSamy Street (Vetri Nagar): Rs 3,301 per sq.ft (2024)
• Gandhimathi 1st Lane (Vetri Nagar Extension): Rs 3,301 per sq.ft (2024)
• Gandhimathi 2nd Lane (Vetri Nagar Extension): Rs 3,301 per sq.ft (2024)

Stamp duty and registration fee for property in Elango Salai 70 Feet Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total fees to Rs 4,41,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Elango Salai 70 Feet Street?

The Sub Registrar Office that covers Elango Salai 70 Feet Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Peravallur. It is used to determine the stamp duty and registration fees that must be paid when registering a property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value serves as a reference point for the transaction. It helps in assessing the official value of the property, which is essential for calculating the necessary fees and duties involved in the sale.

Frequently asked questions

What is the current guideline value of Elango Salai 70 Feet Street?

The current guideline value of Elango Salai 70 Feet Street is Rs 4,900 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 1,400 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 250% over the years.

What is the land classification for Elango Salai 70 Feet Street?

The land classification for Elango Salai 70 Feet Street is Commercial Special Type - III.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for properties in Elango Salai 70 Feet Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 49,00,000 would incur a stamp duty of Rs 3,43,000 at a rate of 7%.