Guideline Value for ILAKALIYAMMAN NAGAR

Ilakaliyamman Nagar guideline value

The current guideline value of Ilakaliyamman Nagar is Rs 220 per sq.ft, effective from 1 July 2024. This area is located in Vallur village under the Thiruvottiyur SRO, with a land classification of Residential Class II Type - I.

How the guideline value of Ilakaliyamman Nagar has changed

In the 2017 revision, the guideline value was Rs 134 per sq.ft. This figure increased to Rs 200 per sq.ft in the 2023 revision, marking a significant change of 49%. The most recent revision in 2024 saw the guideline value rise to Rs 220 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. The register does not provide figures for the years 2002, 2003, 2007, and 2012 for Ilakaliyamman Nagar.

Guideline values in Vallur

In Vallur, there are 75 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 220 to Rs 551 per sq.ft, with the median value being Rs 220 per sq.ft. Ilakaliyamman Nagar's 2024 guideline value aligns with this median.

• Gokul Nagar: Rs 220 per sq.ft (2024)
• Jayalakshmi Nagar: Rs 220 per sq.ft (2024)
• Jaya Nagar: Rs 220 per sq.ft (2024)
• Joseph Street: Rs 220 per sq.ft (2024)
• J.R. Nagar: Rs 220 per sq.ft (2024)
• Kairali Nagar: Rs 220 per sq.ft (2024)

Stamp duty and registration fee for property in Ilakaliyamman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 220 per sq.ft, the total guideline value would be Rs 2,20,000. The stamp duty at 7% would amount to Rs 15,400, and the registration fee at 2% would be Rs 4,400, bringing the total fees together to Rs 19,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ilakaliyamman Nagar?

The Sub Registrar Office that covers Ilakaliyamman Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Vallur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value rather than individual sale prices.

When you buy or sell property, the guideline value helps determine the minimum value on which taxes are calculated, providing transparency and consistency in the registration process. It is advisable to be aware of the current guideline value to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of Ilakaliyamman Nagar?

The current guideline value of Ilakaliyamman Nagar is Rs 220 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 134 per sq.ft to Rs 220 per sq.ft in 2024, marking a total increase of 64% over this period.

What are the stamp duty and registration fees for property in Ilakaliyamman Nagar?

For a property valued at Rs 2,20,000, the stamp duty would be Rs 15,400 and the registration fee would be Rs 4,400, totaling Rs 19,800. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers the area of Ilakaliyamman Nagar?

The Thiruvottiyur Sub Registrar Office covers Ilakaliyamman Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is the guideline value determined for properties in Vallur?

The guideline value for properties in Vallur is determined by the Registration Department's guideline value register. It reflects the current market conditions and is revised periodically to ensure accuracy.