Guideline Value for Elango Street

Elango Street guideline value

The current guideline value of Elango Street in 5. Athipattu village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Konnur SRO and is classified as Residential Class I Type - II.

How the guideline value of Elango Street has changed

The guideline value for Elango Street has seen several revisions over the years. The 2017 revision set the value at Rs 1,340 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in the 2023 revision, marking a 49% rise. The current 2024 revision further increased the value to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in 5. Athipattu

In 5. Athipattu, there are 119 streets under the Konnur SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 7,650 per sq.ft. The median value is Rs 2,200 per sq.ft, which is equal to the current guideline value of Elango Street.

• Eden Villas: Rs 3,600 per sq.ft (2024)
• Ebinesa Avenue: Rs 4,400 per sq.ft (2024)
• Dr. Ambethkar Street: Rs 1,100 per sq.ft (2024)
• Gandhi Street (Chelliamman Nagar): Rs 2,200 per sq.ft (2024)
• Gangai Street(ICF): Rs 2,400 per sq.ft (2024)
• Godavari Street(ICF): Rs 2,400 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 2,200 per sq.ft, the total guideline value is Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Elango Street?

The Sub Registrar Office that covers Elango Street is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more details.

How the guideline value is used when you buy or sell in 5. Athipattu

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in 5. Athipattu, the guideline value is used to calculate stamp duty and registration fees, ensuring that these costs are based on the official valuation rather than the sale price.

It is important for buyers and sellers to be aware of the current guideline value to accurately estimate the costs involved in the registration process. This ensures compliance with local regulations and helps in planning the financial aspects of the transaction.

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 increased from Rs 1,340 per sq.ft in 2017 to Rs 2,000 per sq.ft in 2023, and then to Rs 2,200 per sq.ft in 2024. This represents a 64% increase overall from 2017 to 2024.

What is the land classification for Elango Street?

Elango Street is classified as Residential Class I Type - II according to the local land classification standards.

Where can I find the Konnur Sub Registrar Office?

The Konnur Sub Registrar Office is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is stamp duty calculated for properties in Elango Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. 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%.