Guideline Value for ILANGO NAGAR

Ilango Nagar guideline value

The current guideline value of Ilango Nagar, located in Thiruvanmiyur village, is Rs 7,150 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - I.

How the guideline value of Ilango Nagar has changed

The guideline value for Ilango Nagar has seen several revisions over the years. In 2002, the value was Rs 523 per sq.ft, which increased to Rs 579 per sq.ft in 2003, marking an 11% rise. By 2007, the value surged to Rs 1,300 per sq.ft, reflecting a significant increase of 125%. The value then rose dramatically to Rs 6,500 per sq.ft in 2012, a 400% increase from the previous revision. However, it decreased to Rs 4,355 per sq.ft in 2017, showing a decline of 33%.

In 2023, the guideline value increased to Rs 6,500 per sq.ft, and the latest revision in 2024 has set it at Rs 7,150 per sq.ft, which represents a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 1,267%.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value for these streets is Rs 9,900 per sq.ft, placing Ilango Nagar's 2024 figure below this median.

• Ilango Nagar Main Road: Rs 7,150 per sq.ft (2024)
• Indian Bank Employee Quarters: Rs 9,900 per sq.ft (2024)
• Indian Medical Co-Operative Employee Qut: Rs 9,900 per sq.ft (2024)
• Housing Board Colony: Rs 7,150 per sq.ft (2024)
• Indra Nagar 10th Lane: Rs 4,950 per sq.ft (2024)
• Indra Nagar 11th Lane: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Ilango Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 7,150 per sq.ft, the total guideline value would be Rs 71,50,000. The stamp duty at 7% would amount to Rs 5,00,500, and the registration fee at 2% would be Rs 1,43,000, bringing the total to Rs 6,43,500. Please note that the 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 information.

Which Sub Registrar Office covers Ilango Nagar?

The Sub Registrar Office that covers Ilango Nagar 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 Thiruvanmiyur

The guideline value is a crucial factor in property transactions in Thiruvanmiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of a property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction. It is important for buyers to be aware of the guideline value to understand the financial implications of their property purchase.

Frequently asked questions

What is the current guideline value of Ilango Nagar?

The current guideline value of Ilango Nagar is Rs 7,150 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 523 per sq.ft in 2002 to Rs 7,150 per sq.ft in 2024, reflecting an overall increase of 1,267% over the years.

What is the median guideline value for streets in Thiruvanmiyur?

The median guideline value for streets in Thiruvanmiyur is Rs 9,900 per sq.ft, with Ilango Nagar's 2024 figure being below this median.

What are the stamp duty rates for property in Ilango Nagar?

The stamp duty rate for property in Ilango Nagar is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Ilango Nagar located?

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