Guideline Value for Elango Salai

Elango Salai guideline value

The current guideline value of Elango Salai is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Mugappair village and falls under the Konnur SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Elango Salai has changed

Since 2002, the guideline value for Elango Salai has seen significant changes. In 2002, the guideline value was Rs 754 per sq.ft. This increased to Rs 828 per sq.ft in 2003, marking a 10% rise. The value then surged to Rs 2,000 per sq.ft in 2007, reflecting a remarkable increase of 142%. Following this, the value further escalated to Rs 6,500 per sq.ft in 2012, which was a 225% increase. However, there was a decline to Rs 4,355 per sq.ft in 2017, a drop of 33%. The guideline value then rose to Rs 6,500 per sq.ft in 2023, and finally to Rs 7,100 per sq.ft in 2024, which is a 9% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 842%. The register has no figures for the years between 2012 and 2017, as well as for the years prior to 2002 and after 2024.

Guideline values in Mugappair

In Mugappair, there are 224 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 7,100 per sq.ft, which is the same as the current value for Elango Salai.

• Everest Colony: Rs 8,800 per sq.ft (2024)
• Gandhi Road: Rs 3,800 per sq.ft (2024)
• Gandhi Street: Rs 3,800 per sq.ft (2024)
• Gandhi Street to join the Bajanikoil street: Rs 3,800 per sq.ft (2024)
• Devadoss Street: Rs 7,100 per sq.ft (2024)
• Gems Park: Rs 7,100 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 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total to Rs 6,39,000. 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 Salai?

The Sub Registrar Office that covers Elango Salai is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process of property transactions in Mugappair. It is used to determine the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value is referenced to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations associated with the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Elango Salai?

The current guideline value of Elango Salai is Rs 7,100 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 754 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 842% over this period.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty is Rs 4,97,000 and the registration fee is Rs 1,42,000, totaling Rs 6,39,000.

Which Sub Registrar Office covers Elango Salai?

The Konnur Sub Registrar Office covers Elango Salai, located in Villivakkam Panchat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What is the land classification for Elango Salai?

The land classification for Elango Salai is Residential Special Type - I, indicating its designated use for residential purposes.