Guideline Value for ILANGO ADIGAL STREET / PERIYAR NAGAR

Ilango Adigal Street / Periyar Nagar guideline value

The current guideline value of Ilango Adigal Street / Periyar Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village under the Chennai South Joint I SRO and falls under the Residential Class II Type - I land classification.

How the guideline value of Ilango Adigal Street / Periyar Nagar has changed

The guideline value for Ilango Adigal Street / Periyar Nagar has seen several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, an increase of 10% from the 2023 revision, which was Rs 2,000 per sq.ft. Prior to that, the 2012 revision also recorded a value of Rs 2,000 per sq.ft, indicating no change from 2012 to 2023. The register has no figures for the years 2002, 2003, 2007, and 2017.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. This consistent value from 2012 to 2023 shows stability before the recent increase.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Ilango Adigal Street / Periyar Nagar above this median at Rs 2,200 per sq.ft.

• Ilango Adigal Street: Rs 2,200 per sq.ft (2024)
• Iit Colony Perumal Nagar: Rs 2,750 per sq.ft (2024)
• I.I.T. Colony Extn.: Rs 3,300 per sq.ft (2024)
• I.I.T. Colony 8th Street: Rs 3,300 per sq.ft (2024)
• I.I.T. Colony 7th Street: Rs 3,300 per sq.ft (2024)
• I.I.T. Colony 6th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ilango Adigal Street / Periyar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, leading to a total of Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ilango Adigal Street / Periyar Nagar?

The Sub Registrar Office that covers Ilango Adigal Street / Periyar Nagar is the Chennai South Joint I Sub Registrar Office. The office is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions in Pallikaranai. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property is bought or sold, the guideline value helps in assessing the financial obligations involved in the transaction. Buyers and sellers must consider the guideline value to ensure compliance with registration regulations and to calculate the associated costs accurately.

Frequently asked questions

What is the current guideline value of Ilango Adigal Street?

The current guideline value of Ilango Adigal Street / Periyar Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024. There was no change from 2012 to 2023, where it remained at Rs 2,000 per sq.ft.

What is the land classification for Ilango Adigal Street?

Ilango Adigal Street / Periyar Nagar falls under the Residential Class II Type - I land classification.

What are the stamp duty rates applicable?

The stamp duty for properties in Ilango Adigal Street is 7% of the guideline value or sale price, whichever is higher. The registration fee is 2% of the same value.

Where is the Sub Registrar Office located?

The Chennai South Joint I Sub Registrar Office is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.