Guideline Value for Elango Street

Elango Street guideline value

The current guideline value of Elango Street in Tharamani village, under the Adayar SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Elango Street has changed

The guideline value of Elango Street has undergone several revisions over the years. In 2002, the value was Rs 159 per sq.ft, which increased to Rs 300 per sq.ft in 2003, marking an increase of 89%. The value then rose significantly to Rs 1,000 per sq.ft in 2007, reflecting a 233% increase. Following that, the value reached Rs 2,500 per sq.ft in 2012, a 150% rise. However, it decreased to Rs 1,675 per sq.ft in 2017, showing a decline of 33%. The value then increased to Rs 2,500 per sq.ft in 2023, and finally, it is now Rs 2,800 per sq.ft in 2024, representing a 12% increase from the previous year.

There are no figures available for the revisions in years other than those listed. Overall, from 2002 to 2024, the guideline value has increased by 1661%.

Guideline values in Tharamani

In Tharamani, there are 78 streets under the Adayar SRO that have a 2024 guideline value ranging from Rs 1,700 to Rs 8,800 per sq.ft. The median guideline value is Rs 2,800 per sq.ft, which is the same as the current value for Elango Street.

• Emmanuel Street: Rs 1,700 per sq.ft (2024)
• Gandhi Street: Rs 2,800 per sq.ft (2024)
• Cholamannan Street: Rs 2,200 per sq.ft (2024)
• Govindu Street: Rs 2,800 per sq.ft (2024)
• Bus Stand Road: Rs 3,300 per sq.ft (2024)
• Buddhar Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Elango Street

For a 1,000 sq.ft plot at the current rate of Rs 2,800 per sq.ft, the guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total to Rs 2,52,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Elango Street?

The Sub Registrar Office that covers Elango Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Tharamani. It is used to calculate the stamp duty and registration fees, which are mandatory for property transactions.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded accurately. Buyers and sellers must be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Elango Street?

The current guideline value of Elango Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 159 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 1661%.

What are the other streets in Tharamani with their guideline values?

Other streets in Tharamani include Emmanuel Street at Rs 1,700 per sq.ft, Gandhi Street at Rs 2,800 per sq.ft, Cholamannan Street at Rs 2,200 per sq.ft, Govindu Street at Rs 2,800 per sq.ft, Bus Stand Road at Rs 3,300 per sq.ft, and Buddhar Street at Rs 1,700 per sq.ft.

How is stamp duty calculated for property in Elango Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 at a rate of 7%.

Where is the Sub Registrar Office for Elango Street located?

The Sub Registrar Office for Elango Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.