Guideline Value for I.C.P.L

I.C.P.L guideline value

The current guideline value of I.C.P.L in Karumbur village, under the Chengleput Joint II SRO, is Rs 501 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Special Type - I.

How the guideline value of I.C.P.L has changed

Over the years, the guideline value for I.C.P.L has seen several revisions. The 2012 revision set the value at Rs 500 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 335 per sq.ft. However, from 2017 to 2023, the value increased significantly to Rs 500 per sq.ft, and the most recent revision in 2024 has brought it to Rs 501 per sq.ft.

Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street. The overall change from the 2012 revision to the 2024 revision shows no increase, maintaining the guideline value at Rs 501 per sq.ft.

Guideline values in Karumbur

In Karumbur, there are 10 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 350 to Rs 600 per sq.ft. The median value is Rs 501 per sq.ft, which is equal to the current guideline value for I.C.P.L. Below are the guideline values for other streets in Karumbur:

• Jayamaruthi Puram: Rs 501 per sq.ft (2024)
• Goldan Royal: Rs 501 per sq.ft (2024)
• Balakirshnan Nagar: Rs 350 per sq.ft (2024)
• Balaji Nagar Phase-II: Rs 500 per sq.ft (2024)
• Balaji Nagar: Rs 500 per sq.ft (2024)
• Alavattayamman Nagar: Rs 350 per sq.ft (2024)

Stamp duty and registration fee for property in I.C.P.L

For a 1,000 sq.ft plot at the current rate of Rs 501 per sq.ft, the guideline value amounts to Rs 5,01,000. The stamp duty at 7% would be Rs 35,070, and the registration fee at 2% would be Rs 10,020, totaling Rs 45,090. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers I.C.P.L?

The I.C.P.L area is covered by 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 Karumbur

The guideline value is a crucial factor in the registration process when buying or selling property in Karumbur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When you register a property, the authorities will assess the guideline value to calculate the necessary fees. This ensures that the transaction is recorded accurately and in compliance with local regulations.

Frequently asked questions

What is the current guideline value of I.C.P.L?

The current guideline value of I.C.P.L is Rs 501 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then back to Rs 500 per sq.ft in 2023, and finally to Rs 501 per sq.ft in 2024.

What is the land classification for I.C.P.L?

The land classification for I.C.P.L is Mixed Special Type - I.

Where can I find the Sub Registrar Office for I.C.P.L?

The Sub Registrar Office covering I.C.P.L is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is stamp duty calculated for properties in I.C.P.L?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 5,01,000 would incur a stamp duty of Rs 35,070 at 7%.