Guideline Value for Elangovadigal Street

Elangovadigal Street guideline value

The current guideline value of Elangovadigal Street in Ullagaram village, under the Alandur SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Elangovadigal Street has changed

The guideline value for Elangovadigal Street has seen several revisions over the years. In 2002, the value was Rs 230 per sq.ft, which increased to Rs 258 per sq.ft in 2003, marking a change of +12%. The value then rose significantly to Rs 1,200 per sq.ft in 2007, reflecting a substantial increase of +365%. Following this, the value adjusted to Rs 2,500 per sq.ft in 2012, which was a decrease of -33% from the previous revision. In 2017, the value returned to Rs 1,675 per sq.ft, showing an increase of +49% from 2012. The guideline value was revised to Rs 2,500 per sq.ft in 2023, and most recently, it has increased to Rs 2,800 per sq.ft in 2024, which is a rise of +12%.

There are no figures available for the revisions prior to 2002 or after 2024 for this street in the register.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,800 per sq.ft, which is the same as the current value for Elangovadigal Street.

• Elango Street: Rs 2,200 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 Elangovadigal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total cost for these fees to Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

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 information.

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

The guideline value is an essential factor during the registration of property transactions in Ullagaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is crucial to be aware of the current guideline value, as it directly influences the costs associated with the transaction. Buyers should ensure that the sale price is not below the guideline value to avoid potential issues during registration.

Frequently asked questions

What is the current guideline value of Elangovadigal Street?

The current guideline value of Elangovadigal Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 230 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of +1117% over the years.

Where can I find the registration office for Elangovadigal Street?

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

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2% of the same. For example, a 1,000 sq.ft plot at Rs 2,800 per sq.ft incurs total fees of Rs 2,52,000.

What other streets in Ullagaram have similar guideline values?

Other streets in Ullagaram with similar guideline values include Gajalakshmi Street, Gayathri Nagar, and Gayathri Street, all at Rs 2,800 per sq.ft as of 2024.