Guideline Value for Elangovan Street

Elangovan Street guideline value

The current guideline value of Elangovan Street in Thirumullaivoyal village, under the Ambattur SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. The land classification for this street is Residential Special Type - II.

How the guideline value of Elangovan Street has changed

The guideline value for Elangovan Street has seen several revisions over the years. In 2003, the value was Rs 150 per sq.ft, which increased to Rs 200 per sq.ft in 2007, marking a significant rise of 33%. The value then surged dramatically to Rs 2,500 per sq.ft in 2012, reflecting an increase of 1,150%. However, it dropped to Rs 1,675 per sq.ft in 2017, a decrease of 33%. The next revision in 2023 saw the value rise again to Rs 2,500 per sq.ft, followed by the current value of Rs 2,700 per sq.ft in 2024, which is an increase of 8%.

Overall, from 2003 to 2024, the guideline value has increased by 1,700%. The register has no figure for the year 2002 for Elangovan Street.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO, with guideline values ranging from Rs 880 to Rs 5,500 per sq.ft as of 2024. The median value is Rs 2,400 per sq.ft, placing Elangovan Street's current value above this median.

• Elangovadigal Street (Senthil Nagar): Rs 2,700 per sq.ft (2024)
• Elango Street: Rs 2,700 per sq.ft (2024)
• Easwaran Koil Street: Rs 2,400 per sq.ft (2024)
• East Mada Street: Rs 2,400 per sq.ft (2024)
• Errikkarai Street: Rs 1,900 per sq.ft (2024)
• E.S.I. Anna Nagar: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Elangovan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Elangovan Street?

The Sub Registrar Office that covers Elangovan Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Thirumullaivoyal. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to determine the applicable fees. This ensures that the registration reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Elangovan Street?

The current guideline value of Elangovan Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2003 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 1,700% over this period.

What is the land classification for Elangovan Street?

The land classification for Elangovan Street is Residential Special Type - II.

Where can I find the Sub Registrar Office for Elangovan Street?

The Sub Registrar Office for Elangovan Street is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai.

How is stamp duty calculated for properties in Elangovan Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 27,00,000 would incur a stamp duty of Rs 1,89,000 at 7%.