Guideline Value for ILAVAZHAGANAR STREET (WARD -7)

Ilavazhaganar Street (Ward -7) guideline value

The current guideline value of Ilavazhaganar Street (Ward -7) is Rs 1,760 per sq.ft, effective from 1 July 2024. This street is located in Kattankollatur village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Ilavazhaganar Street (Ward -7) has changed

The guideline value for Ilavazhaganar Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 1,600 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 1,072 per sq.ft. However, from 2017 to the 2023 revision, there was a significant increase of 49%, bringing the value up to Rs 1,600 per sq.ft. The most recent revision in 2024 saw another increase of 10%, resulting in the current value of Rs 1,760 per sq.ft.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Kattankollatur

Kattankollatur village has a total of 453 streets under the Chengleput Joint II SRO, with 2024 guideline values ranging from Rs 440 to Rs 3,612 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, making Ilavazhaganar Street's current value of Rs 1,760 per sq.ft above the median.

• Ilanthiraian Street (Ward -6): Rs 1,320 per sq.ft (2024)
• Ilawalahar Street (Ward -7): Rs 1,320 per sq.ft (2024)
• Imayavaramban Street (Ward -4): Rs 1,320 per sq.ft (2024)
• Indhu Garden (Sa): Rs 440 per sq.ft (2024)
• India Piston (Pa): Rs 550 per sq.ft (2024)
• Indira Ganthi Nagar (N): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Ilavazhaganar Street (Ward -7)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value would be Rs 17,60,000. The stamp duty at 7% would amount to Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, bringing the total fees to Rs 1,58,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ilavazhaganar Street (Ward -7)?

The Sub Registrar Office that covers Ilavazhaganar Street (Ward -7) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Kattankollatur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the official value of the property. It is essential to consider this value during negotiations, as it directly impacts the financial obligations associated with the transaction.

Frequently asked questions

What is the current guideline value of Ilavazhaganar Street (Ward -7)?

The current guideline value of Ilavazhaganar Street (Ward -7) is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, then increased to Rs 1,600 per sq.ft in 2023, and finally to Rs 1,760 per sq.ft in 2024.

What is the median guideline value for streets in Kattankollatur?

The median guideline value for the 453 streets in Kattankollatur is Rs 1,100 per sq.ft. Ilavazhaganar Street's current value is above this median.

What are the stamp duty and registration fees for a property on Ilavazhaganar Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,23,200 and the registration fee would be Rs 35,200, totaling Rs 1,58,400.

Which office handles registrations for Ilavazhaganar Street?

The Chengleput Joint II Sub Registrar Office handles registrations for Ilavazhaganar Street (Ward -7), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.