Guideline Value for Elangovadigal cross street

Elangovadigal cross street guideline value

The current guideline value of Elangovadigal cross street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Perumbakkam village, under the Selaiyur SRO, and is classified as Residential Special Type - II.

How the guideline value of Elangovadigal cross street has changed

The guideline value for Elangovadigal cross street has seen several revisions over the years. In 2012, the value was Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in 2017. This marked a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, reaching Rs 3,000 per sq.ft. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for Elangovadigal cross street for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Perumbakkam

In Perumbakkam, there are 225 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft. The median value for these streets is Rs 2,725 per sq.ft, placing Elangovadigal cross street's 2024 figure above this median.

• Elangovadigal street: Rs 3,300 per sq.ft (2024)
• Ethiraj street: Rs 3,300 per sq.ft (2024)
• Gajendra Nagar: Rs 3,300 per sq.ft (2024)
• Gajendra Nagar 1st to 5th Cross street: Rs 3,300 per sq.ft (2024)
• Divinity: Rs 2,725 per sq.ft (2024)
• Gandhi Nagar 3rd Cross st, "Verdant Acres": Rs 2,725 per sq.ft (2024)

Stamp duty and registration fee for property in Elangovadigal cross street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be 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 guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Elangovadigal cross street?

The Sub Registrar Office that covers Elangovadigal cross street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Perumbakkam. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value is assessed to calculate the applicable charges. This ensures that the transaction reflects the prevailing market conditions and provides a basis for taxation related to property transfers.

Frequently asked questions

What is the current guideline value of Elangovadigal cross street?

The current guideline value of Elangovadigal cross 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 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in Elangovadigal cross 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.

Which office handles registrations for Elangovadigal cross street?

The Selaiyur Sub Registrar Office handles registrations for Elangovadigal cross street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the median guideline value for streets in Perumbakkam?

The median guideline value for the 225 streets in Perumbakkam is Rs 2,725 per sq.ft, with Elangovadigal cross street's value being above this median.