Guideline Value for Elango Street

Elango Street guideline value

The current guideline value of Elango Street in Ullagaram village, under the Alandur SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class II Type - II.

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 407 per sq.ft. It increased to Rs 456 per sq.ft in 2003, marking a 12% rise. The value then saw a significant jump to Rs 1,200 per sq.ft in 2007, which was a 163% increase. Following this, the value decreased to Rs 2,000 per sq.ft in 2012, reflecting a 67% increase from 2007. In 2017, the value rose to Rs 1,340 per sq.ft, a decrease of 33% from the previous revision. The value then increased to Rs 2,000 per sq.ft in 2023, representing a 49% rise, before reaching the current value of Rs 2,200 per sq.ft in 2024, which is a 10% increase.

There are no figures for revisions in years other than those mentioned above. The overall change from 2002 to 2024 shows an increase of 441%.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft, with a median value of Rs 2,800 per sq.ft. Elango Street's 2024 guideline value is below this median.

• Elangovadigal Street: Rs 2,800 per sq.ft (2024)
• E.P.R.Nagar: Rs 3,900 per sq.ft (2024)
• Gajalakshmi Street: Rs 2,800 per sq.ft (2024)
• Gandhi Street: Rs 2,200 per sq.ft (2024)
• Gayathri Nagar: Rs 2,800 per sq.ft (2024)
• Gayathri Street: Rs 2,800 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 2,200 per sq.ft, the guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also 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. To find your SRO, you can visit find your SRO.

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

The guideline value is essential when buying or selling property in Ullagaram, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees applicable at the time of the transaction.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the state 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 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 407 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 441% over the years.

What is the land classification for Elango Street?

Elango Street is classified as Residential Class II Type - II.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in Elango Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at 7%.