Guideline Value for ILANGO ADIGAL STREET

Ilango Adigal Street guideline value

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

How the guideline value of Ilango Adigal Street has changed

The guideline value for Ilango Adigal Street has seen several revisions over the years. In 2002, the guideline value was Rs 92 per sq.ft, which increased to Rs 109 per sq.ft in 2003, marking an increase of 18%. By 2007, the value surged to Rs 400 per sq.ft, reflecting a significant increase of 267%. The 2012 revision saw the value rise to Rs 2,000 per sq.ft, an increase of 400% from the previous figure. However, in 2017, the value decreased to Rs 1,340 per sq.ft, a drop of 33%. The guideline value was then revised to Rs 2,000 per sq.ft in 2023, showing a rise of 49% from 2017. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, an increase of 10% from 2023.

There are no figures available for the revisions in years other than those specified. Overall, from 2002 to 2024, the guideline value has increased by 2,291%.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, placing Ilango Adigal Street's 2024 figure above that median.

• Ilango Adigal Street / Periyar Nagar: 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

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. Together, the total cost for stamp duty and registration fee would be Rs 1,98,000. It is important to note that 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 Ilango Adigal Street?

The Sub Registrar Office that covers Ilango Adigal Street is the Chennai South Joint I Sub Registrar Office, 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 details.

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

The guideline value is a crucial factor in the registration process of property transactions. When buying or selling property in Pallikaranai, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. The higher the guideline value, the greater the stamp duty and registration fees that will be incurred during the registration process.

Frequently asked questions

What is the current guideline value of Ilango Adigal Street?

The current guideline value of Ilango Adigal Street 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 changed significantly from Rs 92 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 2,291%.

What is the land classification for Ilango Adigal Street?

Ilango Adigal Street is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for properties in Ilango Adigal Street?

The stamp duty is 7% and the registration fee is 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total cost for these fees would be Rs 1,98,000.

Which office handles the registration for Ilango Adigal Street?

The Chennai South Joint I Sub Registrar Office handles the registration for Ilango Adigal Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.