Guideline Value for Elangovan Street

Elangovan Street guideline value

The current guideline value of Elangovan Street in Pozhichalur village is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Pammal SRO and is classified as Residential Class II Type - I.

How the guideline value of Elangovan Street has changed

The guideline value for Elangovan Street has seen several revisions over the years. The 2017 revision set the value at Rs 670 per sq.ft, which increased to Rs 1,000 per sq.ft in the 2023 revision, marking a 49% rise. The most recent 2024 revision has further increased the value to Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year. It is important to note that the register has no figures for this street in the years 2002, 2003, 2007, and 2012.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. This significant change highlights the adjustments made to the property values in the area over the years.

Guideline values in Pozhichalur

In Pozhichalur, there are 299 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 4,500 per sq.ft. The median value for these streets is Rs 1,320 per sq.ft, placing Elangovan Street's 2024 figure below this median.

• Elangovadigal Street: Rs 1,100 per sq.ft (2024)
• Ekambaram Street: Rs 1,100 per sq.ft (2024)
• E.C.T.V Nagar: Rs 1,320 per sq.ft (2024)
• Ellarajamanickam Street: Rs 2,200 per sq.ft (2024)
• ErattaiMalai Srinivasan Stree: Rs 1,100 per sq.ft (2024)
• Erusappan Street Divyadass Nagar: Rs 1,100 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 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total fees together Rs 99,000. It is essential to note that 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 Elangovan Street?

The Sub Registrar Office that covers Elangovan Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Pozhichalur. 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, the guideline value helps both parties understand the fair value of the property. It is essential for buyers to be aware of the guideline value to ensure that they are not overpaying for a property and that sellers are pricing their properties competitively.

Frequently asked questions

What is the current guideline value of Elangovan Street?

The current guideline value of Elangovan Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 670 per sq.ft in 2017 to Rs 1,100 per sq.ft in 2024, marking a total increase of 64% over these years.

What is the land classification for Elangovan Street?

Elangovan Street is classified as Residential Class II Type - I under the current guidelines.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

What is the stamp duty rate for property in Elangovan Street?

The stamp duty rate for property transactions in Elangovan Street is 7% of the guideline value or the sale price, whichever is higher.