Guideline Value for Kannagi Nagar Elango Street

Kannagi Nagar Elango Street guideline value

The current guideline value of Kannagi Nagar Elango Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the jurisdiction of the Royapuram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Kannagi Nagar Elango Street has changed

In the 2017 revision, the guideline value was set at Rs 804 per sq.ft. This figure increased to Rs 1,200 per sq.ft in 2023, marking a 49% rise. The latest revision in 2024 has further increased the value to Rs 1,300 per sq.ft, which is an 8% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 62%. The register does not have figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft, with a median value of Rs 1,600 per sq.ft. Kannagi Nagar Elango Street's 2024 value is below this median.

• Kannagi Nagar Kovalan Street: Rs 1,300 per sq.ft (2024)
• Kannagi Nagar Madavi Street: Rs 1,300 per sq.ft (2024)
• Kannagi Nagar Manimegalai Street: Rs 1,300 per sq.ft (2024)
• Kannagi Nagar Pandiyan Street: Rs 1,300 per sq.ft (2024)
• Kannagi Street: Rs 1,300 per sq.ft (2024)
• Kannan Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kannagi Nagar Elango Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, while the registration fee at 2% would be Rs 26,000, bringing the total cost to Rs 1,17,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kannagi Nagar Elango Street?

The Sub Registrar Office that covers Kannagi Nagar Elango Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions within Tondaiarpet. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency and standardization in property dealings.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of ownership. Buyers must be aware of these values to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Kannagi Nagar Elango Street?

The current guideline value of Kannagi Nagar Elango Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 804 per sq.ft in 2017 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 62% over this period.

What are the other streets with the same guideline value in Tondaiarpet?

Other streets in Tondaiarpet with the same guideline value of Rs 1,300 per sq.ft in 2024 include Kannagi Nagar Kovalan Street, Kannagi Nagar Madavi Street, Kannagi Nagar Manimegalai Street, Kannagi Nagar Pandiyan Street, and Kannagi Street.

Where can I find the Royapuram Sub Registrar Office?

The Royapuram Sub Registrar Office is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is stamp duty calculated for properties in Kannagi Nagar Elango Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at a rate of 7%.