Guideline Value for Ilango Street

Ilango Street guideline value

The current guideline value of Ilango Street in Perungalathur village is Rs 2,310 per sq.ft, effective from 1 July 2024. This street falls under the Padappai SRO and is classified as Residential Class II Type - I.

How the guideline value of Ilango Street has changed

The guideline value for Ilango Street has seen several revisions over the years. In the 2007 revision, the value was Rs 250 per sq.ft, which increased significantly to Rs 2,100 per sq.ft in 2012, marking a rise of 740%. However, this value dropped to Rs 1,407 per sq.ft in the 2017 revision, a decrease of 33%. The value then rose to Rs 2,100 per sq.ft in 2023, followed by a further increase to Rs 2,310 per sq.ft in 2024, reflecting a 10% change.

From the 2017 revision to 2023, there was a substantial increase of 49%. Overall, from the 2007 revision to the current 2024 value, Ilango Street has experienced an increase of 824%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value is Rs 2,310 per sq.ft, which matches the guideline value of Ilango Street.

• Haritha Enclave (M.S.): Rs 1,650 per sq.ft (2024)
• Harijon's Colony: Rs 1,650 per sq.ft (2024)
• Indra Gandhi Street: Rs 2,640 per sq.ft (2024)
• Indra Nagar: Rs 1,320 per sq.ft (2024)
• Irai kutty Street: Rs 1,980 per sq.ft (2024)
• Ishwarya Garden: Rs 3,960 per sq.ft (2024)

Stamp duty and registration fee for property in Ilango Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,310 per sq.ft, the total guideline value would be Rs 23,10,000. The stamp duty at 7% would amount to Rs 1,61,700, and the registration fee at 2% would be Rs 46,200, bringing the total to Rs 2,07,900. It is important to note that the 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 Street?

Ilango Street is covered by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Perungalathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on the property's worth.

When a buyer or seller engages in a transaction, the guideline value is referenced to calculate the applicable fees. This ensures transparency and uniformity in property transactions within the region, helping to prevent undervaluation and ensuring that all parties are aware of the financial implications involved.

Frequently asked questions

What is the current guideline value of Ilango Street?

The current guideline value of Ilango Street is Rs 2,310 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 2,310 per sq.ft in 2024, marking an overall increase of 824% over the years.

What are the stamp duty and registration fees for properties on Ilango Street?

For a 1,000 sq.ft property, the total guideline value is Rs 23,10,000. The stamp duty would be Rs 1,61,700, and the registration fee would be Rs 46,200, totaling Rs 2,07,900.

Which Sub Registrar Office covers Ilango Street?

Ilango Street is covered by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification of Ilango Street?

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