Guideline Value for Ilango Nagar

Ilango Nagar guideline value

The current guideline value of Ilango Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Ammanambakkam village under the Chengleput Joint II SRO and is classified as Mixed Special Type - II.

How the guideline value of Ilango Nagar has changed

The guideline value of Ilango Nagar has seen several revisions over the years. In the 2007 revision, the value was Rs 65 per sq.ft, which increased significantly to Rs 500 per sq.ft in the 2012 revision. However, it dropped to Rs 335 per sq.ft in the 2017 revision before climbing back to Rs 500 per sq.ft in both the 2023 and 2024 revisions, showing no change between these two years.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 669%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Ammanambakkam

In Ammanambakkam, there are 16 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 300 to Rs 900 per sq.ft. The median value is Rs 500 per sq.ft, and Ilango Nagar's 2024 figure matches this median.

• Jayam Nagar: Rs 501 per sq.ft (2024)
• Gopalasamy Nagar: Rs 500 per sq.ft (2024)
• Ganesh Nagar: Rs 500 per sq.ft (2024)
• Kamaraj Nagar: Rs 850 per sq.ft (2024)
• Lake City: Rs 500 per sq.ft (2024)
• Abi Akshya Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Ilango Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, totaling Rs 45,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ilango Nagar?

The Sub Registrar Office that covers Ilango Nagar 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 more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ammanambakkam. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

When registering a property, it is essential to be aware of the current guideline value, as it impacts the overall costs involved in the transaction. Buyers and sellers should ensure they are informed of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Ilango Nagar?

The current guideline value of Ilango Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 65 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, then decreased to Rs 335 per sq.ft in 2017, and has remained at Rs 500 per sq.ft in both 2023 and 2024.

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

Other streets in Ammanambakkam include Jayam Nagar at Rs 501 per sq.ft, Gopalasamy Nagar, Ganesh Nagar, and Lake City at Rs 500 per sq.ft, Kamaraj Nagar at Rs 850 per sq.ft, and Abi Akshya Nagar at Rs 300 per sq.ft.

How is the stamp duty calculated in Ilango Nagar?

Stamp duty in Ilango Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

Where can I find the Sub Registrar Office for Ilango Nagar?

The Sub Registrar Office for Ilango Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.