Guideline Value for Elango Street (Ramana Nagar)

Elango Street (Ramana Nagar) guideline value

The current guideline value of Elango Street (Ramana Nagar) is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village and falls under the Sembiam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Elango Street (Ramana Nagar) has changed

The guideline value of Elango Street (Ramana Nagar) has seen several revisions over the years. In 2007, the value was Rs 800 per sq.ft, which increased significantly to Rs 1,800 per sq.ft in 2012, marking a 125% rise. However, it then dropped to Rs 1,206 per sq.ft in 2017, reflecting a decrease of 33%. The value climbed again to Rs 1,800 per sq.ft in 2023, and finally reached Rs 1,900 per sq.ft in the 2024 revision, representing a 6% increase from the previous year.

Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 138%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Sembiam

In Sembiam village, there are 250 streets under the Sembiam SRO that have a 2024 guideline value ranging from Rs 1,700 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. Elango Street (Ramana Nagar) is below this median value.

• Elango Street (Anbazhagan Nagar): Rs 1,900 per sq.ft (2024)
• Elumalai Street: Rs 1,900 per sq.ft (2024)
• Erukkancherry High Road: Rs 4,400 per sq.ft (2024)
• Duraisamy Mudali Street: Rs 1,900 per sq.ft (2024)
• Dhimmasamy Dharga 4th Street: Rs 1,700 per sq.ft (2024)
• Dhimmasamy Dharga 3rd Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Elango Street (Ramana Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty, calculated at 7%, amounts to Rs 1,33,000, while the registration fee at 2% totals Rs 38,000. Together, the total cost for these fees would be Rs 1,71,000. It is important to note that 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 Street (Ramana Nagar)?

The Sub Registrar Office that covers Elango Street (Ramana Nagar) is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Sembiam. It serves as the basis for determining the stamp duty and registration fees that must be paid when buying or selling property. Buyers and sellers should be aware that the guideline value is often used to assess the minimum value for registration purposes.

When a property is sold, the guideline value ensures that the transaction is recorded accurately for legal and taxation purposes. It helps maintain transparency in property dealings and prevents undervaluation during registration.

Frequently asked questions

What is the current guideline value of Elango Street (Ramana Nagar)?

The current guideline value of Elango Street (Ramana Nagar) is Rs 1,900 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 800 per sq.ft in 2007 to Rs 1,900 per sq.ft in 2024, showing an overall increase of 138% over this period.

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

For a 1,000 sq.ft property at the current guideline value, the total stamp duty is Rs 1,33,000 and the registration fee is Rs 38,000, making a total of Rs 1,71,000.

Which Sub Registrar Office covers Elango Street?

The Sembiam Sub Registrar Office covers Elango Street (Ramana Nagar), located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification for Elango Street (Ramana Nagar)?

The land classification for Elango Street (Ramana Nagar) is Residential Class II Type - I.