Guideline Value for Elango Street

Elango Street guideline value

The current guideline value of Elango Street in Erukancherry village, under the Madhavaram SRO, is Rs 3,000 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Elango Street has changed

The guideline value for Elango Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,800 per sq.ft, which then decreased to Rs 1,876 per sq.ft in the 2017 revision. Following this, there was a significant increase to Rs 2,800 per sq.ft in the 2023 revision, and the latest 2024 revision raised it to Rs 3,000 per sq.ft, marking a 7% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 7%. Notably, the revisions for the years 2002, 2003, and 2007 have no figures recorded for this street.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 3,800 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, placing Elango Street's 2024 figure above this median.

• Easwari Street: Rs 2,200 per sq.ft (2024)
• Erukancherry High Road: Rs 3,800 per sq.ft (2024)
• Eswaran Koil Street: Rs 2,500 per sq.ft (2024)
• Eswari Nagar: Rs 2,500 per sq.ft (2024)
• Ethiraj Salai Pachaiappan Layout: Rs 2,500 per sq.ft (2024)
• Ethirajsamy Street: Rs 3,000 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 3,000 per sq.ft, the guideline value amounts to Rs 30,00,000. The stamp duty at 7% would be Rs 2,10,000, and the registration fee at 2% would be Rs 60,000, bringing the total to Rs 2,70,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Elango Street?

The Sub Registrar Office that covers Elango Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Erukancherry, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the current guideline values to ensure compliance with legal requirements during property registration. This helps in avoiding any disputes related to property valuation and taxation.

Frequently asked questions

What is the current guideline value of Elango Street?

The current guideline value of Elango Street is Rs 3,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,800 per sq.ft in 2012 to Rs 1,876 per sq.ft in 2017, then increased to Rs 2,800 per sq.ft in 2023, and finally to Rs 3,000 per sq.ft in 2024.

What is the median guideline value for streets in Erukancherry?

The median guideline value for the 376 streets in Erukancherry is Rs 2,500 per sq.ft, with Elango Street's 2024 figure being above this median.

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

The stamp duty for a property valued at Rs 30,00,000 is Rs 2,10,000, and the registration fee is Rs 60,000, totaling Rs 2,70,000.

Which office handles registrations for Elango Street?

The Madhavaram Sub Registrar Office handles registrations for Elango Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.