Guideline Value for Illango Street

Illango Street guideline value

The current guideline value of Illango Street, located in Hastinapuram village under the Pallavaram SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - I land classification.

How the guideline value of Illango Street has changed

The guideline value for Illango Street has seen several revisions over the years. In the 2007 revision, the value was set at Rs 400 per sq.ft. This increased significantly in the 2012 revision to Rs 1,500 per sq.ft, but then saw a decrease to Rs 1,005 per sq.ft in the 2017 revision. The 2023 revision raised it to Rs 1,500 per sq.ft, and the most recent 2024 revision has established the current value at Rs 1,650 per sq.ft.

In terms of percentage changes, the value rose by 275% from 2007 to 2012, decreased by 33% from 2012 to 2017, and increased by 49% from 2017 to 2023. The latest change from 2023 to 2024 reflects a 10% increase. Overall, from 2007 to 2024, the guideline value has increased by 313%.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median value for these streets is Rs 2,970 per sq.ft, indicating that Illango Street's 2024 figure is below this median.

• Indira Cotton Mills Quarters: Rs 2,380 per sq.ft (2024)
• Indrakattan Colony: Rs 1,650 per sq.ft (2024)
• Indra Nagar: Rs 1,650 per sq.ft (2024)
• Hasthinapuram Main Road: Rs 4,400 per sq.ft (2024)
• Harijan Colony 2nd Street: Rs 1,650 per sq.ft (2024)
• Harijan Colony 1st Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Illango Street

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 cost for these fees to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Illango Street?

The Sub Registrar Office that covers Illango Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Hastinapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps to establish a fair price for transactions. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Illango Street?

The current guideline value of Illango Street 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 several times, starting from Rs 400 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 313% since 2007.

What is the land classification of Illango Street?

Illango Street is classified as Residential Class III Type - I, which is important for determining its usage and development potential.

Where can I find the Sub Registrar Office for Illango Street?

The Sub Registrar Office for Illango Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for properties on Illango Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,50,000, the stamp duty at 7% would be Rs 1,15,500.