Guideline Value for Elangovan Street

Elangovan Street guideline value

The current guideline value of Elangovan Street is Rs 3,300 per sq.ft. It is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Special Type - V.

How the guideline value of Elangovan Street has changed

Looking at the revisions, the guideline value for Elangovan Street has seen several changes over the years. The 2012 revision recorded a value of Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 3,000 per sq.ft, marking a 49% rise. The most recent revision in 2024 set the guideline 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 Elangovan Street for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. Elangovan Street's 2024 figure of Rs 3,300 per sq.ft is above this median.

• Eista Sithi Vinayakar Koil Street: Rs 850 per sq.ft (2024)
• Elumalai Nayakakar Street: Rs 1,600 per sq.ft (2024)
• Elumalai Street: Rs 2,200 per sq.ft (2024)
• Erikkarai Street: Rs 2,900 per sq.ft (2024)
• Erikkarai Vinayagar Puram: Rs 1,600 per sq.ft (2024)
• Eswaran Koil Street: Rs 1,300 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 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost together to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Elangovan Street?

The Sub Registrar Office covering Elangovan 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 details.

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

The guideline value is a critical factor when registering property transactions in Selaiyur. 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 aids in assessing the financial implications of the transaction. Buyers and sellers must be aware of the guideline value to understand the potential costs involved in registration and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Elangovan Street?

The current guideline value of Elangovan 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 for Elangovan Street has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What is the land classification for Elangovan Street?

Elangovan Street is classified as Residential Special Type - V, which indicates its designated use for residential purposes.

Where is the Selaiyur Sub Registrar Office located?

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 Elangovan Street?

Stamp duty for properties in Elangovan Street is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.