Guideline Value for ISAIGNANI ILAYARAJA QUARTERS

Isaignani Ilayaraja Quarters guideline value

The current guideline value of Isaignani Ilayaraja Quarters is Rs 3,520 per sq.ft, effective from 1 July 2024. This area is located in Thiruvanmiyur village and falls under the Chennai South Joint I SRO. The land classification for this property is Residential Class V Type - III.

How the guideline value of Isaignani Ilayaraja Quarters has changed

The guideline value for Isaignani Ilayaraja Quarters has seen several revisions over the years. In 2002, the value was Rs 481 per sq.ft, which increased to Rs 532 per sq.ft in 2003, marking an increase of 11%. The value then surged significantly to Rs 1,800 per sq.ft in 2007, representing a substantial increase of 238%. Following this, in 2012, the value adjusted to Rs 3,200 per sq.ft, reflecting an increase of 78% from the previous revision. However, there was a decrease to Rs 2,144 per sq.ft in 2017, a change of 33%. The value then rose again to Rs 3,200 per sq.ft in 2023, before reaching the current figure of Rs 3,520 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 632%. There are no figures available for the revisions in years other than those listed.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 3,520 to Rs 12,660 per sq.ft, with a median value of Rs 9,900 per sq.ft. The guideline value for Isaignani Ilayaraja Quarters is below this median.

• Indra Nagar West Avenue: Rs 9,900 per sq.ft (2024)
• Indra Nagar East Avenue: Rs 9,900 per sq.ft (2024)
• Indra Nagar 9th Lane: Rs 4,950 per sq.ft (2024)
• Indra Nagar 8th Street: Rs 4,950 per sq.ft (2024)
• Indra Nagar 7th Street: Rs 4,950 per sq.ft (2024)
• Indra Nagar 5th Main Road: Rs 12,660 per sq.ft (2024)

Stamp duty and registration fee for property in Isaignani Ilayaraja Quarters

For a 1,000 sq.ft plot at the current rate of Rs 3,520 per sq.ft, the guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, totaling Rs 3,16,800. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Isaignani Ilayaraja Quarters?

The Sub Registrar Office that covers Isaignani Ilayaraja Quarters is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thiruvanmiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the state government receives appropriate revenue from property transactions, reflecting the property's value in the current market.

Frequently asked questions

What is the current guideline value of Isaignani Ilayaraja Quarters?

The current guideline value of Isaignani Ilayaraja Quarters is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 481 per sq.ft in 2002 to Rs 3,520 per sq.ft in 2024, marking an overall increase of 632% over this period.

What is the land classification for Isaignani Ilayaraja Quarters?

The land classification for Isaignani Ilayaraja Quarters is Residential Class V Type - III.

Where can I find the Sub Registrar Office for Isaignani Ilayaraja Quarters?

The Sub Registrar Office for Isaignani Ilayaraja Quarters is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How are stamp duty and registration fees calculated for properties in Isaignani Ilayaraja Quarters?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees amount to Rs 3,16,800.