Guideline Value for Elango Salai

Elango Salai guideline value

The current guideline value of Elango Salai is Rs 11,000 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village under the Chennai Central Joint I SRO, classified as Commercial Special Type - IV.

How the guideline value of Elango Salai has changed

There have been several revisions to the guideline value of Elango Salai over the years. The register does not contain figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent figures show that the guideline value was Rs 10,000 per sq.ft in 2023, which increased by 10% to Rs 11,000 per sq.ft in 2024.

Prior to 2023, the guideline value for Elango Salai was not recorded in the register for the years mentioned. The 2024 revision reflects a significant increase, indicating a change in the valuation of properties in this area.

Guideline values in Mylapore Part 1

Mylapore Part 1 has a total of 333 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value for this area is Rs 8,800 per sq.ft, placing Elango Salai's 2024 figure above this median.

• Eldams Road: Rs 13,200 per sq.ft (2024)
• Ellaiamman Colony 1st Cross Street: Rs 8,700 per sq.ft (2024)
• Ellaiamman Colony 2nd Cross Street: Rs 8,700 per sq.ft (2024)
• Ellaiamman Colony 3rd Cross Street: Rs 8,700 per sq.ft (2024)
• Ellaiamman Colony 4th Cross Street: Rs 8,700 per sq.ft (2024)
• Ellaiamman Colony 5th Cross Street: Rs 8,700 per sq.ft (2024)

Stamp duty and registration fee for property in Elango Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value amounts to Rs 1,10,00,000. The stamp duty at 7% would be Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, totaling Rs 9,90,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For further assistance, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Elango Salai?

The Sub Registrar Office that covers Elango Salai is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is an essential factor when registering property transactions in Mylapore Part 1. It serves as the basis for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

When buying or selling property, the guideline value helps determine the legal obligations for both parties involved. It is crucial to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Elango Salai?

The current guideline value of Elango Salai is Rs 11,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Elango Salai has changed from Rs 10,000 per sq.ft in 2023 to Rs 11,000 per sq.ft in 2024, reflecting a 10% increase. The register does not contain figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value in Mylapore Part 1?

The median guideline value in Mylapore Part 1 is Rs 8,800 per sq.ft. Elango Salai's current value is above this median.

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

For a property valued at Rs 1,10,00,000, the stamp duty would be Rs 7,70,000 and the registration fee would be Rs 2,20,000, totaling Rs 9,90,000. Duty is charged on the higher of the guideline value or the sale price.

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

The Sub Registrar Office for Elango Salai is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.