Guideline Value for I.C.F. NAGAR & ANNEX

I.C.F. Nagar & Annex guideline value

The current guideline value of I.C.F. Nagar & Annex is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Palliyaraikuppam village and falls under the Tiruvallur Joint 1 SRO, classified as Residential Special Type - III.

How the guideline value of I.C.F. Nagar & Annex has changed

Since the 2012 revision, the guideline value for I.C.F. Nagar & Annex has seen various changes. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2024 revision. The 2017 revision marked a significant increase to Rs 134 per sq.ft, followed by a jump to Rs 200 per sq.ft in the 2023 revision, and it has stayed the same into 2024, resulting in a 49% increase from 2017 to 2023.

For the years 2002, 2003, and 2007, the register has no figure for this street. Overall, comparing the 2012 revision to the 2024 revision, there has been no change, maintaining the guideline value at Rs 200 per sq.ft.

Guideline values in Palliyaraikuppam

Palliyaraikuppam village has 10 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 900 per sq.ft, with a median value of Rs 300 per sq.ft. The guideline value for I.C.F. Nagar & Annex is below this median.

• Gothavari Nagar: Rs 200 per sq.ft (2024)
• J.J. Nagar: Rs 400 per sq.ft (2024)
• Kumaran Nagar: Rs 400 per sq.ft (2024)
• Balaji Nagar & Ext: Rs 200 per sq.ft (2024)
• Sarojammal Nagar: Rs 400 per sq.ft (2024)
• Thiruttanigai Nagar & Ext: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in I.C.F. Nagar & Annex

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total cost for these fees to Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers I.C.F. Nagar & Annex?

The I.C.F. Nagar & Annex area is covered by the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Palliyaraikuppam. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the transaction is recorded at a fair value as per government standards.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that all transactions are conducted transparently and in accordance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of I.C.F. Nagar & Annex?

The current guideline value of I.C.F. Nagar & Annex is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent being Rs 200 per sq.ft in both the 2023 and 2024 revisions. The value was Rs 134 per sq.ft in 2017 and Rs 200 per sq.ft in 2012.

What is the land classification for I.C.F. Nagar & Annex?

I.C.F. Nagar & Annex is classified as Residential Special Type - III, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property in I.C.F. Nagar & Annex?

For a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000 and the registration fee would be Rs 4,000, totaling Rs 18,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers I.C.F. Nagar & Annex?

The Tiruvallur Joint 1 Sub Registrar Office covers I.C.F. Nagar & Annex, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.