Guideline Value for Ilayaraja Nagar

Ilayaraja Nagar guideline value

The current guideline value of Ilayaraja Nagar is Rs 1,210 per sq.ft, effective from 1 July 2024. This area is located in Baraniputjur village, under the Kunrathur SRO, and is classified as Residential Special Type - II.

How the guideline value of Ilayaraja Nagar has changed

The guideline value for Ilayaraja Nagar has seen several revisions over the years. In 2007, the value was Rs 200 per sq.ft, which increased significantly to Rs 1,100 per sq.ft in 2012. However, it dropped to Rs 737 per sq.ft in 2017 before rising to Rs 1,100 per sq.ft again in 2023. The latest revision in 2024 set the guideline value at Rs 1,210 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 505%. The register does not provide figures for the years 2002 and 2003 for this street.

Guideline values in Baraniputjur

In Baraniputjur, there are 39 streets under the Kunrathur SRO that carry a guideline value for 2024, ranging from Rs 700 to Rs 2,500 per sq.ft, with a median value of Rs 1,210 per sq.ft. The guideline value of Ilayaraja Nagar aligns with this median.

• Iyyappanthangal Main Road: Rs 1,450 per sq.ft (2024)
• Janaki Raman Nagar: Rs 1,210 per sq.ft (2024)
• Jothi Nagar: Rs 1,210 per sq.ft (2024)
• Ellaiyamman koil Street: Rs 1,210 per sq.ft (2024)
• Karthik Avenue: Rs 1,450 per sq.ft (2024)
• Karuna Nidhi Street: Rs 1,210 per sq.ft (2024)

Stamp duty and registration fee for property in Ilayaraja Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,210 per sq.ft, the guideline value amounts to Rs 12,10,000. The stamp duty at 7% would be Rs 84,700, and the registration fee at 2% would be Rs 24,200, totaling Rs 1,08,900. 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 more details.

Which Sub Registrar Office covers Ilayaraja Nagar?

The Sub Registrar Office that covers Ilayaraja Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Baraniputjur. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is recorded at a fair value.

When a property is registered, the buyer must pay the applicable stamp duty based on the higher of the guideline value or the sale price. This helps maintain transparency and accountability in property transactions within the region.

Frequently asked questions

What is the current guideline value of Ilayaraja Nagar?

The current guideline value of Ilayaraja Nagar is Rs 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 1,210 per sq.ft in 2024, reflecting an overall increase of 505% over the years.

What is the land classification of Ilayaraja Nagar?

Ilayaraja Nagar is classified as Residential Special Type - II, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in Ilayaraja Nagar?

For a property valued at Rs 12,10,000, the stamp duty would be Rs 84,700 and the registration fee would be Rs 24,200, totaling Rs 1,08,900.

Which office handles property registrations in Ilayaraja Nagar?

The Kunrathur Sub Registrar Office handles property registrations for Ilayaraja Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.