Guideline Value for Ilango St

Ilango St guideline value

The current guideline value of Ilango St is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village, under the Tambaram Joint 1 SRO, classified as Residential Class I Type - III.

How the guideline value of Ilango St has changed

The guideline value for Ilango St has seen several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in the 2017 revision. In 2023, the value increased to Rs 1,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 1,650 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased significantly by 49%. The value then rose by 10% from 2023 to 2024, resulting in an overall increase of 10% from 2012 to 2024.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is equal to the current value for Ilango St.

• Ibrahim Street: Rs 1,650 per sq.ft (2024)
• Homes Road: Rs 4,400 per sq.ft (2024)
• hirumagal Nagar 2st Street: Rs 1,650 per sq.ft (2024)
• Indira Gandhi Street: Rs 1,650 per sq.ft (2024)
• Hasimin Street: Rs 1,650 per sq.ft (2024)
• Indra Nagar ( Bharatha Madha St): Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Ilango St

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Ilango St?

Ilango St is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during property registration in Chitlapakkam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the state receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property in the eyes of the registration authorities. It is essential for buyers and sellers to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Ilango St?

The current guideline value of Ilango St is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for Ilango St?

Ilango St is classified as Residential Class I Type - III, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for a property in Ilango St?

For a 1,000 sq.ft plot, the total guideline value is Rs 16,50,000, with a stamp duty of Rs 1,15,500 and a registration fee of Rs 33,000, totaling Rs 1,48,500.

Which office handles the registration for Ilango St?

The registration for Ilango St is handled by the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059.