Guideline Value for Elango Street

Elango Street guideline value

The current guideline value of Elango Street, located in Adambakkam village under the Alandur SRO, is Rs 3,900 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - III land classification.

How the guideline value of Elango Street has changed

The guideline value for Elango Street has seen significant changes over the years. In 2002, the value was Rs 282 per sq.ft, which increased to Rs 322 per sq.ft in 2003, marking a 14% rise. The value continued to climb, reaching Rs 900 per sq.ft in 2007, a substantial increase of 180%. Following this, the value surged to Rs 3,500 per sq.ft in 2012, reflecting a remarkable 289% increase. However, it then decreased to Rs 2,345 per sq.ft in 2017, a drop of 33%. The value increased again to Rs 3,500 per sq.ft in 2023, before reaching the current rate of Rs 3,900 per sq.ft in 2024, which is an 11% rise.

Overall, from 2002 to 2024, the guideline value has increased by 1283%. There are no figures available for the revisions in years other than those listed.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value is Rs 3,900 per sq.ft, which is equal to the 2024 figure for Elango Street.

• East Vellalar 2nd Street: Rs 5,000 per sq.ft (2024)
• East Vellalar 1st Street: Rs 5,000 per sq.ft (2024)
• Gandhi Street: Rs 3,900 per sq.ft (2024)
• Dhamodaran Street: Rs 2,800 per sq.ft (2024)
• Devaraja Puram: Rs 3,900 per sq.ft (2024)
• Gangai Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Elango Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total to Rs 3,51,000. 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 more details.

Which Sub Registrar Office covers Elango Street?

The Sub Registrar Office that covers Elango Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Adambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Elango Street?

The current guideline value of Elango Street is Rs 3,900 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 282 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, marking an overall increase of 1283% over the years.

What is the registration office for Elango Street?

The registration office for Elango Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for property in Elango Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,73,000.

What are the other streets in Adambakkam with guideline values?

Other streets in Adambakkam include East Vellalar 2nd Street, East Vellalar 1st Street, Gandhi Street, Dhamodaran Street, Devaraja Puram, and Gangai Street, with varying guideline values.