Guideline Value for ILLAIHI NAGAR

Illaihi Nagar guideline value

The current guideline value of Illaihi Nagar is Rs 400 per sq.ft, effective from 1 July 2024. This street is located in Thachoor_2 village under the Ponneri Sub Registrar Office (SRO) and is classified as Residential Class II Type - I.

How the guideline value of Illaihi Nagar has changed

The guideline value for Illaihi Nagar has undergone significant changes over the years. The register shows no figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 150 per sq.ft, which increased to Rs 400 per sq.ft in the 2024 revision, marking a change of +167%.

The 2024 revision reflects the most current valuation, which is a notable increase from the previous year's figure. The 2023 guideline value of Rs 150 per sq.ft was the last recorded before the substantial rise in 2024.

Guideline values in Thachoor_2

In Thachoor_2, there are 40 streets under the Ponneri SRO that have a 2024 guideline value ranging from Rs 202 to Rs 1,800 per sq.ft, with a median value of Rs 600 per sq.ft. Illaihi Nagar's 2024 figure of Rs 400 per sq.ft is below this median.

• Jai Nagar: Rs 600 per sq.ft (2024)
• Gorti Green Garden: Rs 400 per sq.ft (2024)
• Ganesh Garden: Rs 800 per sq.ft (2024)
• Kandan Nagar: Rs 800 per sq.ft (2024)
• K.P.K. Nagar: Rs 202 per sq.ft (2024)
• Kumaran Nagar: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Illaihi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 400 per sq.ft, the guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, totaling Rs 36,000. Please note that 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 further calculations.

Which Sub Registrar Office covers Illaihi Nagar?

The Sub Registrar Office that covers Illaihi 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 Thachoor_2

The guideline value is a crucial factor during the registration process of property transactions in Thachoor_2. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Illaihi Nagar?

The current guideline value of Illaihi Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 150 per sq.ft in 2023 to Rs 400 per sq.ft in 2024, representing a change of +167%.

What are the other streets in Thachoor_2 with their guideline values?

Other streets in Thachoor_2 include Jai Nagar at Rs 600 per sq.ft, Gorti Green Garden at Rs 400 per sq.ft, Ganesh Garden at Rs 800 per sq.ft, Kandan Nagar at Rs 800 per sq.ft, K.P.K. Nagar at Rs 202 per sq.ft, and Kumaran Nagar at Rs 800 per sq.ft for 2024.

Where can I find the Ponneri Sub Registrar Office?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. This office handles the registration of properties in the area.

How is stamp duty calculated in Illaihi Nagar?

Stamp duty in Illaihi Nagar is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 4,00,000 would incur a stamp duty of Rs 28,000 at 7%.