Guideline Value for ILAWALAHAR STREET (WARD -7)

Ilawalahar Street (Ward -7) guideline value

The current guideline value of Ilawalahar Street (Ward -7) is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Sattamangalam village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - V.

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

In the 2012 revision, the guideline value for Ilawalahar Street was Rs 1,200 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 804 per sq.ft. The value saw a significant increase in the 2023 revision, rising to Rs 1,200 per sq.ft, and then further increased to Rs 1,320 per sq.ft in the 2024 revision, marking a 10% rise from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Sattamangalam

In Sattamangalam, there are 425 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 is Rs 1,100 per sq.ft, placing Ilawalahar Street's 2024 figure above this median.

• Ilavazhaganar Street (Ward -7): Rs 1,760 per sq.ft (2024)
• Ilanthiraian Street (Ward -6): Rs 1,320 per sq.ft (2024)
• Imayavaramban Street (Ward -4): Rs 1,320 per sq.ft (2024)
• Indhu Garden (Sa): Rs 660 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 Ilawalahar Street (Ward -7)

For a 1,000 sq.ft plot at the current rate, the guideline value would be Rs 13,20,000. The stamp duty, charged at 7%, would amount to Rs 92,400, while the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers Ilawalahar Street (Ward -7) is 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 further assistance.

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

The guideline value is an essential metric used during property registration in Sattamangalam. It helps determine the amount of stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official register.

When buying or selling property, the guideline value serves as a baseline for assessing the transaction price. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

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

The current guideline value of Ilawalahar Street (Ward -7) is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent increase being from Rs 1,200 per sq.ft in 2023 to Rs 1,320 per sq.ft in 2024. Overall, from 2012 to 2024, the value has increased by 10%.

What is the land classification for Ilawalahar Street?

Ilawalahar Street is classified as Residential Special Type - V. This classification is important for determining the guideline value and potential uses of the land.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles all registrations for the area, including Ilawalahar Street.

How is stamp duty calculated for properties in Sattamangalam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 13,20,000, the stamp duty at 7% would amount to Rs 92,400.