Guideline Value for Elango Street

Elango Street guideline value

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

How the guideline value of Elango Street has changed

Elango Street has seen several revisions in its guideline value over the years. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, an increase from Rs 2,000 per sq.ft in the 2023 revision, marking a change of +10%. Prior to that, in 2017, the guideline value was Rs 1,340 per sq.ft, which reflects a significant increase of +49% to the 2023 figure. The register has no figure for the years 2002, 2003, and 2007.

In the 2012 revision, the guideline value was Rs 2,000 per sq.ft, which was a decrease of -33% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by +10%.

Guideline values in Kodungaiyur

Kodungaiyur features a variety of guideline values across its 1318 streets under the Madhavaram SRO, with the 2024 figures ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value in this area is Rs 2,700 per sq.ft, placing Elango Street's 2024 guideline value below that median.

• East Avenue Road: Rs 2,700 per sq.ft (2024)
• Eswaran Street (K.M. Nagar): Rs 2,700 per sq.ft (2024)
• Eswari Street: Rs 2,200 per sq.ft (2024)
• Eswari Street (Lakshmiamman): Rs 2,200 per sq.ft (2024)
• Ethiraj Swamy Sannathi Street: Rs 3,301 per sq.ft (2024)
• E.V.R. Salai: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Elango Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to 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 to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Elango Street?

The Elango Street property is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process for property transactions in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees payable when buying or selling property.

When a property is registered, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. 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 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 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, with various revisions in between, including Rs 2,000 in 2023 and Rs 2,000 in 2012.

What is the median guideline value in Kodungaiyur?

The median guideline value in Kodungaiyur is Rs 2,700 per sq.ft, which is higher than the current value of Elango Street.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

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.