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 Peramanoor 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

Over the years, the guideline value of Ilavazhaganar Street has seen several revisions. The earliest recorded revision is from 2012, where the guideline value was Rs 1,600 per sq.ft. This figure remained the same in the 2012 revision but dropped to Rs 1,072 per sq.ft in the 2017 revision, marking a decrease of 33%. However, the value saw a significant increase in the following years, rising to Rs 1,600 per sq.ft in the 2023 revision, which was a 49% increase from the 2017 figure. The latest revision in 2024 has set the guideline value at Rs 1,760 per sq.ft, reflecting a 10% increase from the previous year.

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

Guideline values in Peramanoor

In Peramanoor, there are a total of 430 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, placing Ilavazhaganar Street's 2024 figure above this 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 550 per sq.ft (2024)
• India Piston (Pa): Rs 660 per sq.ft (2024)
• Indira Ganthi Nagar (N): Rs 661 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 amounts to Rs 17,60,000. The stamp duty, charged at 7%, would be Rs 1,23,200, and the registration fee, charged at 2%, would be Rs 35,200. Therefore, the total cost for stamp duty and registration fees together would be 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)?

Ilavazhaganar Street (Ward -7) falls under the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Peramanoor. It serves as a benchmark for determining the applicable stamp duty and registration fees, ensuring that transactions are conducted at a fair value as per the government regulations.

When a property is sold, the guideline value will be compared with the actual sale price. The higher of the two will be used to calculate the stamp duty and registration fees, thereby ensuring compliance with local laws and regulations.

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 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, indicating its designated use for residential purposes.

Where is the Chengleput Joint II Sub Registrar Office located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is the stamp duty calculated for properties in Ilavazhaganar Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total cost for stamp duty and registration fees amounts to Rs 1,58,400.