Guideline Value for Elangovadigal Street

Elangovadigal Street guideline value

The current guideline value of Elangovadigal Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Nanganallur village, under the Alandur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Elangovadigal Street has changed

The guideline value for Elangovadigal Street has seen significant changes over the years. In 2002, the guideline value was Rs 327 per sq.ft, which increased to Rs 372 per sq.ft in 2003. Following this, the value rose to Rs 700 per sq.ft in 2007, marking an increase of 88%. The value then surged dramatically to Rs 3,000 per sq.ft in 2012, showing a substantial increase of 329%. However, it dropped to Rs 2,010 per sq.ft in 2017, reflecting a decrease of 33%. The value then increased to Rs 3,000 per sq.ft in 2023, before reaching the current figure of Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 909%. There are no figures available for revisions in the years not listed in the register.

Guideline values in Nanganallur

Nanganallur has a total of 155 streets under the Alandur SRO, with guideline values for 2024 ranging from Rs 2,800 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, which means that Elangovadigal Street's current value is below this median.

• First Main Road Part: Rs 4,400 per sq.ft (2024)
• Dr Ambethkar Street: Rs 4,400 per sq.ft (2024)
• Ganapathi Street: Rs 2,800 per sq.ft (2024)
• Gandhi Road Lane: Rs 4,400 per sq.ft (2024)
• Gandhi Street: Rs 4,400 per sq.ft (2024)
• Collage Road Main: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Elangovadigal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Elangovadigal Street?

The Sub Registrar Office that covers Elangovadigal 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 details.

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

The guideline value is a crucial factor when registering property transactions in Nanganallur. It serves as the basis for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a value that reflects the established rates for the area.

When buying or selling property, it is essential to be aware of the guideline value, as it can affect the overall costs associated with the transaction. Buyers should ensure that they are informed about the current guideline value to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value of Elangovadigal Street?

The current guideline value of Elangovadigal Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 327 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 909% over this period.

What is the median guideline value for streets in Nanganallur?

The median guideline value for streets in Nanganallur is Rs 3,900 per sq.ft, which is higher than the current value of Elangovadigal Street.

What are the stamp duty and registration fees for property in Elangovadigal Street?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Where is the Sub Registrar Office for Elangovadigal Street located?

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