Guideline Value for ILLAHI NAGAR

Illahi Nagar guideline value

The current guideline value of Illahi Nagar, located in Aaladu village under the Ponneri SRO, is Rs 200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Illahi Nagar has changed

The guideline value for Illahi Nagar has undergone several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was set at Rs 200 per sq.ft. This remained unchanged until the 2017 revision, which saw a decrease to Rs 134 per sq.ft. Following this, the value increased significantly to Rs 200 per sq.ft in the 2023 revision, maintaining the same figure in the 2024 revision, indicating no change between these two years. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. Overall, comparing the figures from 2012 to 2024, the guideline value has remained constant at Rs 200 per sq.ft.

Guideline values in Aaladu

Aaladu village has 13 streets under the Ponneri SRO that carry a guideline value for 2024, ranging from Rs 200 to Rs 400 per sq.ft, with a median value of Rs 200 per sq.ft. The guideline value for Illahi Nagar is equal to this median.

• Gomathi Amman Nagar: Rs 200 per sq.ft (2024)
• Jayam Housing Site: Rs 200 per sq.ft (2024)
• Duraiswami Nagar: Rs 200 per sq.ft (2024)
• Annamalai Nagar: Rs 200 per sq.ft (2024)
• Annai Nagar: Rs 200 per sq.ft (2024)
• Abirami Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Illahi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total fees to Rs 18,000. It is important to note that 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 Illahi Nagar?

The Sub Registrar Office that covers Illahi Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Aaladu. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is considered to ensure that the transaction is documented at a fair value. This helps in maintaining transparency and accountability in property transactions within the region.

Frequently asked questions

What is the current guideline value of Illahi Nagar?

The current guideline value of Illahi Nagar is Rs 200 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 a decrease in 2017 to Rs 134 per sq.ft, followed by an increase back to Rs 200 per sq.ft in 2023 and 2024.

What is the land classification of Illahi Nagar?

Illahi Nagar is classified as Residential Class I Type - I.

What are the stamp duty and registration fees for property in Illahi Nagar?

For a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000 and the registration fee would be Rs 4,000, totaling Rs 18,000.

Where is the Sub Registrar Office for Illahi Nagar located?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.