Guideline Value for Islath Nagar

Islath Nagar guideline value

The current guideline value for Islath Nagar, located in Perumattu Nellore village under the Chengleput Joint II SRO, is Rs 500 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Islath Nagar has changed

Over the years, the guideline value of Islath Nagar has experienced several revisions. The earliest available figure is from 2007, where the value was Rs 175 per sq.ft. This increased significantly to Rs 500 per sq.ft in 2012, marking a 186% rise. However, from 2012 to 2017, the value decreased to Rs 335 per sq.ft, a drop of 33%. The value then rose again to Rs 500 per sq.ft in 2023, maintaining that same rate into 2024.

From 2017 to 2023, the guideline value increased by 49%. Notably, there are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 186%.

Guideline values in Perumattu Nellore

In Perumattu Nellore, there are 83 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 500 to Rs 2,850 per sq.ft. The median value for these streets is Rs 700 per sq.ft, placing Islath Nagar's 2024 figure below that median.

• Janakipuram: Rs 700 per sq.ft (2024)
• Jbm Dakshin Nagar: Rs 800 per sq.ft (2024)
• Jbm Dakshin Nagar Phase I: Rs 800 per sq.ft (2024)
• Jbm Dakshin Nagar Phase II: Rs 800 per sq.ft (2024)
• Jbm Dakshin Nagar Phase III: Rs 800 per sq.ft (2024)
• Ganthi Nagar: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Islath Nagar

For a 1,000 sq.ft plot at the current rate of Rs 500 per sq.ft, the 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 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 Islath Nagar?

The Sub Registrar Office that covers Islath 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 Perumattu Nellore

When buying or selling property in Perumattu Nellore, the guideline value is a crucial factor that determines the stamp duty and registration fees. It serves as a benchmark for calculating the costs associated with property transactions, ensuring that the appropriate fees are paid based on the official valuation.

At the time of registration, the guideline value helps in determining the minimum price at which a property can be registered. This ensures transparency and fairness in property transactions, as it prevents undervaluation and ensures that the government receives the due revenue from property sales.

Frequently asked questions

What is the current guideline value of Islath Nagar?

The current guideline value of Islath 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 several times, starting from Rs 175 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, then decreasing to Rs 335 per sq.ft in 2017, and finally returning to Rs 500 per sq.ft in 2023 and 2024.

What are the stamp duty and registration fees for property in Islath Nagar?

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total stamp duty and registration fees would amount to Rs 45,000, based on the applicable rates.

Which Sub Registrar Office covers Islath Nagar?

The Chengleput Joint II Sub Registrar Office covers Islath Nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the land classification for Islath Nagar?

Islath Nagar is classified as Residential Class I Type - I, indicating its designation for residential use within the area.