Guideline Value for I.D.P.Lquarters

I.D.P.Lquarters guideline value

The current guideline value for I.D.P.Lquarters in Nandhambakkam village, under the Alandur SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - III.

How the guideline value of I.D.P.Lquarters has changed

The guideline value for I.D.P.Lquarters has seen several revisions over the years. In 2007, the value was Rs 1,500 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012. However, it dropped to Rs 2,680 per sq.ft in 2017. The value then rose to Rs 4,000 per sq.ft in 2023, before reaching the current figure of Rs 4,400 per sq.ft in 2024.

Between the revisions, there have been notable changes. From 2007 to 2012, there was a substantial increase of 167%. However, from 2012 to 2017, the value decreased by 33%. The most significant increase occurred from 2017 to 2023, with a rise of 49%, followed by a 10% increase from 2023 to 2024. Overall, the guideline value has increased by 193% from 2007 to 2024.

Guideline values in Nandhambakkam

Nandhambakkam has a total of 76 streets under the Alandur SRO, with guideline values ranging from Rs 2,200 to Rs 8,300 per sq.ft. The median guideline value in this area is Rs 3,900 per sq.ft, making the current value for I.D.P.Lquarters above this median.

• I.D.P.L Road: Rs 4,400 per sq.ft (2024)
• Harington Road: Rs 4,400 per sq.ft (2024)
• Harikrishna Colony: Rs 3,900 per sq.ft (2024)
• Gangai Amman Koil Street: Rs 3,900 per sq.ft (2024)
• Ganapathipuram Main Road: Rs 3,900 per sq.ft (2024)
• Ganapathi Puram First Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in I.D.P.Lquarters

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 cost for these fees 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 use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers I.D.P.Lquarters?

The I.D.P.Lquarters area falls under the jurisdiction of the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Nandhambakkam. It helps determine the stamp duty and registration fees applicable to the transaction, ensuring that all parties are aware of the financial implications involved.

When a property is sold, the guideline value is referenced to ensure compliance with the legal requirements for registration. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value for I.D.P.Lquarters?

The current guideline value for I.D.P.Lquarters 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 significantly, increasing from Rs 1,500 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 193% over this period.

What is the land classification for I.D.P.Lquarters?

I.D.P.Lquarters is classified as Residential Class I Type - III, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in I.D.P.Lquarters?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 44,00,000, the total fees would amount to Rs 3,96,000.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.