Guideline Value for I.C.F.ANNEX (Near M.T.H.Road)

I.C.F.ANNEX (Near M.T.H.Road) guideline value

The current guideline value of I.C.F.ANNEX (Near M.T.H.Road) is Rs 5,500 per sq.ft, effective from 1 July 2024. This property is located in Villivakkam village, under the Villivakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of I.C.F.ANNEX (Near M.T.H.Road) has changed

The guideline value for I.C.F.ANNEX has seen several revisions over the years. In 2007, the guideline value was Rs 950 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, it then decreased to Rs 3,350 per sq.ft in 2017. The value rose again to Rs 5,000 per sq.ft in 2023, and currently stands at Rs 5,500 per sq.ft as of the 2024 revision. The overall increase from 2007 to 2024 is 479%.

Between the revisions, the changes in the guideline value were as follows: from 2007 to 2012, there was a notable increase of 426%. However, from 2012 to 2017, the value decreased by 33%. The value then rose by 49% from 2017 to 2023, and finally increased by 10% from 2023 to 2024. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO with a 2024 guideline value ranging from Rs 1,600 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, placing I.C.F.ANNEX above this median value.

• I - Block: Rs 9,800 per sq.ft (2024)
• Imayam Colony: Rs 8,200 per sq.ft (2024)
• High Court (North) Colony 1st & 2nd Street: Rs 4,400 per sq.ft (2024)
• High Court Colony Main Road: Rs 4,400 per sq.ft (2024)
• High Court Colony Lane: Rs 4,400 per sq.ft (2024)
• HIGH COURT COLONY 2nd STREET: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in I.C.F.ANNEX (Near M.T.H.Road)

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees to Rs 4,95,000. 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 details.

Which Sub Registrar Office covers I.C.F.ANNEX (Near M.T.H.Road)?

The I.C.F.ANNEX (Near M.T.H.Road) area is covered by the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Villivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the fees reflect the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of I.C.F.ANNEX?

The current guideline value of I.C.F.ANNEX (Near M.T.H.Road) is Rs 5,500 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

From 2023 to 2024, the guideline value increased by 10%, from Rs 5,000 per sq.ft to Rs 5,500 per sq.ft.

What was the guideline value in 2017?

The guideline value in 2017 was Rs 3,350 per sq.ft. This was a decrease from Rs 5,000 per sq.ft in 2012.

What is the registration fee for properties in I.C.F.ANNEX?

The registration fee for properties in I.C.F.ANNEX is calculated at 2% of the guideline value or sale price, whichever is higher.

Where can I find the Villivakkam Sub Registrar Office?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.