Guideline Value for I.H.F.D. Colony

I.H.F.D. Colony guideline value

The current guideline value of I.H.F.D. Colony in Issa Pallavaram village is Rs 4,950 per sq.ft, effective from 1 July 2024. This area falls under the Pallavaram SRO and is classified as Mixed Type - I.

How the guideline value of I.H.F.D. Colony has changed

The guideline value for I.H.F.D. Colony has undergone several revisions over the years. The 2007 revision set the value at Rs 1,200 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012. However, it saw a decrease of 33% to Rs 3,015 per sq.ft in the 2017 revision. The value then rose to Rs 4,500 per sq.ft in 2023, before reaching the current rate of Rs 4,950 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 313%. It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Issa Pallavaram

In Issa Pallavaram, there are 110 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of I.H.F.D. Colony is above this median.

• Hussian Basha Street: Rs 3,850 per sq.ft (2024)
• Hussian Basha Cross Street: Rs 3,850 per sq.ft (2024)
• Hussian Basha 2ND Cross Street: Rs 3,850 per sq.ft (2024)
• Hussian Basha 1ST Cross Street: Rs 3,850 per sq.ft (2024)
• Hemanatha Pillai Avenue Ramlingar Street: Rs 3,850 per sq.ft (2024)
• Hemanathapillai Avenue 1: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in I.H.F.D. Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value would be Rs 49,50,000. The stamp duty at 7% would amount to Rs 3,46,500, while the registration fee at 2% would be Rs 99,000, bringing the total to Rs 4,45,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers I.H.F.D. Colony?

The I.H.F.D. Colony is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, 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 Issa Pallavaram

The guideline value is a crucial factor in the registration process when buying or selling property in Issa Pallavaram. 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 sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government collects the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of I.H.F.D. Colony?

The current guideline value of I.H.F.D. Colony is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,200 per sq.ft in 2007 to Rs 4,950 per sq.ft in 2024, marking an overall increase of 313%.

What are the guideline values of other streets in Issa Pallavaram?

Other streets in Issa Pallavaram have varying guideline values, with rates ranging from Rs 2,200 to Rs 11,000 per sq.ft. For example, Hussian Basha Street and its cross streets are valued at Rs 3,850 per sq.ft.

What are the stamp duty and registration fees for property in I.H.F.D. Colony?

For a property valued at Rs 49,50,000, the stamp duty would be Rs 3,46,500 and the registration fee would be Rs 99,000, totaling Rs 4,45,500.

Which office handles the registration for I.H.F.D. Colony?

The registration for I.H.F.D. Colony is handled by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.