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

I.H.F.D. Nagar guideline value

The current guideline value of I.H.F.D. Nagar, located in Zaminpallavaram village under the Pallavaram SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This area falls under the Commercial Class I Type - III land classification.

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

The guideline value for I.H.F.D. Nagar has seen several revisions over the years. In 2003, the value was Rs 979 per sq.ft, which increased to Rs 1,200 per sq.ft in 2007. Following that, it rose significantly to Rs 4,000 per sq.ft in 2012, before dropping to Rs 2,680 per sq.ft in 2017. The value then increased to Rs 4,000 per sq.ft in 2023, and currently stands at Rs 4,400 per sq.ft as per the 2024 revision. Notably, there is no figure available for the year 2002 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%, while the jump from 2023 to 2024 was 10%. The most significant change occurred between 2007 and 2012, where the value increased by 233%. Overall, from 2003 to 2024, the guideline value has risen by 349%.

Guideline values in Zaminpallavaram

Zaminpallavaram village has a total of 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing I.H.F.D. Nagar's 2024 figure above this median.

• Illangovan Street: Rs 3,300 per sq.ft (2024)
• Highways Co.Op.Society Layout: Rs 3,520 per sq.ft (2024)
• High Way Nagar West R.K.V.Avenue Extention: Rs 2,200 per sq.ft (2024)
• Indra Gandhi Street: Rs 3,520 per sq.ft (2024)
• Indra Nagar: Rs 3,300 per sq.ft (2024)
• Indra Nagar 6th Street: Rs 3,300 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, while the registration fee at 2% would be Rs 88,000, totaling 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 also use our stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers I.H.F.D. Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a critical factor during the registration of property transactions in Zaminpallavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is transparent and compliant with local regulations.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction, based on the established guideline value for the area.

Frequently asked questions

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

The current guideline value of I.H.F.D. Nagar 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 several times, starting from Rs 979 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024. The most significant increase occurred between 2007 and 2012, with a rise of 233%.

What is the land classification for I.H.F.D. Nagar?

I.H.F.D. Nagar is classified as Commercial Class I Type - III under the land classification system.

Where can I find the Sub Registrar Office for I.H.F.D. Nagar?

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

How is the stamp duty calculated for properties in I.H.F.D. Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 44,00,000 would incur a stamp duty of Rs 3,08,000 at a rate of 7%.