Guideline Value for Elangovadigal street

Elangovadigal street guideline value

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

How the guideline value of Elangovadigal street has changed

The guideline value for Elangovadigal street has seen several revisions over the years. In 2012, the value was Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 3,000 per sq.ft, a rise of 49%. 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 there are no figures available for the revisions in 2002, 2003, and 2007 for Elangovadigal street. 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 street above this median.

• Elangovadigal cross 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 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 essential to note that the 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 Elangovadigal street?

The Sub Registrar Office that covers Elangovadigal 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, within the Chengalpattu registration zone.

You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions in Perumbakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction. It is important for both parties to be aware of the current guideline value to avoid any discrepancies 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 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Elangovadigal street?

Elangovadigal street is classified as Residential Special Type - II.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Elangovadigal street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 3,300 per sq.ft, the stamp duty would be Rs 2,31,000.