Guideline Value for ILAIYALVAR KOIL STREET

Ilaiyalvar Koil Street guideline value

The current guideline value of Ilaiyalvar Koil Street is Rs 4,400 per sq.ft. This street is located in Saidapet village, under the Chennai South Joint II SRO, and is classified as Residential Class II Type - II.

How the guideline value of Ilaiyalvar Koil Street has changed

The guideline value for Ilaiyalvar Koil Street has seen several revisions since 2002. The earliest recorded value in 2002 was Rs 443 per sq.ft, which increased to Rs 555 per sq.ft in 2003. Following this, the value rose significantly to Rs 1,300 per sq.ft in 2007, and then to Rs 4,000 per sq.ft in 2012. However, it dropped to Rs 2,680 per sq.ft in 2017. The value then increased to Rs 4,000 per sq.ft in 2023, before reaching the current rate of Rs 4,400 per sq.ft in the 2024 revision.

In terms of percentage changes, from 2002 to 2024, the overall increase has been +893%. Notably, the jump from 2017 to 2023 was +49%, while the increase from 2023 to 2024 was +10%. The most significant rise occurred between 2007 and 2012, with an increase of +208%.

Guideline values in Saidapet

In Saidapet village, there are 106 streets under the Chennai South Joint II SRO that carry a guideline value for 2024, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, which is the same as the guideline value for Ilaiyalvar Koil Street.

• Hospital Road 2nd Lane: Rs 5,500 per sq.ft (2024)
• Hospital Road 1st Lane: Rs 5,500 per sq.ft (2024)
• Hospital Road: Rs 6,050 per sq.ft (2024)
• Gulabchand Bora Street: Rs 4,400 per sq.ft (2024)
• Jayaram Chetty Street: Rs 5,500 per sq.ft (2024)
• Geenis Road: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Ilaiyalvar Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty, charged at 7%, would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000. Together, the total fees would be Rs 3,96,000. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers Ilaiyalvar Koil Street?

The Sub Registrar Office that covers Ilaiyalvar Koil Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Saidapet. It serves as a benchmark for determining the value of the property for stamp duty and registration fees.

When you register a property, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. Therefore, understanding the guideline value is essential for accurate financial planning during property transactions.

Frequently asked questions

What is the current guideline value of Ilaiyalvar Koil Street?

The current guideline value of Ilaiyalvar Koil Street is Rs 4,400 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 443 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of +893% over the years.

What is the land classification for Ilaiyalvar Koil Street?

Ilaiyalvar Koil Street is classified as Residential Class II Type - II.

Where can I find the Sub Registrar Office for Ilaiyalvar Koil Street?

The Sub Registrar Office for Ilaiyalvar Koil Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in Ilaiyalvar Koil Street?

Stamp duty for properties in Ilaiyalvar Koil Street is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 at 7%.