Guideline Value for I.A.F Road

I.A.F Road guideline value

The current guideline value of I.A.F Road in Selaiyur village, under the Selaiyur SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is classified as Commercial Class I Type - I.

How the guideline value of I.A.F Road has changed

Over the years, the guideline value of I.A.F Road has seen several revisions. The 2012 revision set the value at Rs 4,000 per sq.ft, which was a decrease of 33% from Rs 2,680 per sq.ft in the 2017 revision. The 2023 revision then increased the value to Rs 4,000 per sq.ft, and the latest 2024 revision has raised it further to Rs 4,400 per sq.ft, marking a 10% increase from the previous year.

In summary, the guideline value has increased from Rs 2,680 per sq.ft in 2017 to Rs 4,400 per sq.ft in 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft. The median value is Rs 2,200 per sq.ft, making the guideline value of I.A.F Road above this median.

• I.A.F Road Arunachalam Street: Rs 4,400 per sq.ft (2024)
• I.A.F Road Sakthi Avenue: Rs 4,400 per sq.ft (2024)
• Housing Board Quarters: Rs 950 per sq.ft (2024)
• Immanuel Street: Rs 950 per sq.ft (2024)
• Indian Bank Colony 1st Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in I.A.F Road

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000, bringing the total fees together to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers I.A.F Road?

The I.A.F Road is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Selaiyur. It determines the minimum value at which properties can be registered, ensuring that transactions are conducted transparently and fairly.

When registering a property, the guideline value helps in calculating the stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of I.A.F Road?

The current guideline value of I.A.F Road is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What is the land classification for I.A.F Road?

I.A.F Road is classified as Commercial Class I Type - I, indicating its commercial significance in the area.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 4,400 per sq.ft would incur a total fee of Rs 3,96,000.