Guideline Value for Elango Street (Muthurangam Block)

Elango Street (Muthurangam Block) guideline value

The current guideline value of Elango Street (Muthurangam Block) is Rs 4,100 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO, classified as Residential Class IV Type - I.

How the guideline value of Elango Street (Muthurangam Block) has changed

The guideline value for Elango Street has seen several revisions over the years. In 2007, the value was Rs 800 per sq.ft, which increased significantly to Rs 3,750 per sq.ft in 2012. However, it then decreased to Rs 2,512 per sq.ft in 2017. The value rose again to Rs 3,750 per sq.ft in 2023, before reaching the current figure of Rs 4,100 per sq.ft in 2024, marking a 9% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 413%. The register does not provide figures for the years 2002 and 2003 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, placing Elango Street's 2024 figure below this median.

• Elango Street (Thiru Nagar): Rs 4,900 per sq.ft (2024)
• Elango 4th Cross Street: Rs 4,100 per sq.ft (2024)
• Elango 3rd Cross Street: Rs 4,100 per sq.ft (2024)
• Elango 2nd Cross Street: Rs 4,100 per sq.ft (2024)
• Elango 1st Cross Street: Rs 4,100 per sq.ft (2024)
• Ellai Amman Koil Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Elango Street (Muthurangam Block)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,100 per sq.ft, the total guideline value would be Rs 41,00,000. The stamp duty at 7% would amount to Rs 2,87,000, and the registration fee at 2% would be Rs 82,000, leading to a total of Rs 3,69,000. It is important to 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 further calculations.

Which Sub Registrar Office covers Elango Street (Muthurangam Block)?

The Sub Registrar Office that covers Elango Street (Muthurangam Block) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Kodambakkam. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Elango Street (Muthurangam Block)?

The current guideline value of Elango Street (Muthurangam Block) is Rs 4,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 4,100 per sq.ft in 2024, showing an overall increase of 413% over the years.

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

For a property valued at Rs 41,00,000, the stamp duty would be Rs 2,87,000 and the registration fee would be Rs 82,000, totaling Rs 3,69,000.

Which Sub Registrar Office covers this area?

The Ashok Nagar Sub Registrar Office covers Elango Street (Muthurangam Block), located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the median guideline value for streets in Kodambakkam?

The median guideline value for the 1,031 streets in Kodambakkam under the Ashok Nagar SRO is Rs 4,900 per sq.ft, which is higher than the current guideline value of Elango Street.