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 Panangottur 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

In the 2012 revision, the guideline value was Rs 1,600 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 1,072 per sq.ft. Following that, the value increased significantly to Rs 1,600 per sq.ft in the 2023 revision, and then rose again to Rs 1,760 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. The register has no figure for this street in the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, while the value increased by 49% from 2017 to 2023. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Panangottur

In Panangottur village, there are 419 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 990 per sq.ft, placing Ilavazhaganar Street's 2024 figure above that 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 rate of Rs 1,760 per sq.ft, the 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 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 information, 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 details.

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

The guideline value plays a crucial role during the registration of property transactions in Panangottur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the value of the property being transacted.

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 land classification for Ilavazhaganar Street?

Ilavazhaganar Street is classified as Residential Special Type - III. This classification affects the guideline value and property transactions in the area.

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

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2%. For a 1,000 sq.ft plot, these fees would total Rs 1,58,400 based on the current guideline value.

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.