Guideline Value for I.I.T COLONY 5TH STREET EXTENSION

I.I.T Colony 5th Street Extension guideline value

The current guideline value of I.I.T Colony 5th Street Extension is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Commercial Class I Type - II.

How the guideline value of I.I.T Colony 5th Street Extension has changed

The guideline value for I.I.T Colony 5th Street Extension has undergone several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 3,000 per sq.ft. The most recent revision in 2024 shows an increase to Rs 3,300 per sq.ft, marking a change of +10% from the previous figure.

There are no figures available for the revisions in the years 2023, 2017, 2007, 2003, and 2002 for this street. Thus, the only figures available are from the 2012 and 2024 revisions.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,110 to Rs 8,580 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value of I.I.T Colony 5th Street Extension is above this median.

• I.I.T. Colony 5th Street: Rs 3,300 per sq.ft (2024)
• I.I.T. Colony 6th Street: Rs 3,300 per sq.ft (2024)
• I.I.T. Colony 4th Street: Rs 3,300 per sq.ft (2024)
• I.I.T. Colony 7th Street: Rs 3,300 per sq.ft (2024)
• I.I.T Colony 3rd Street Extension: Rs 3,300 per sq.ft (2024)
• I.I.T. Colony 8th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in I.I.T Colony 5th Street Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers I.I.T Colony 5th Street Extension?

The I.I.T Colony 5th Street Extension is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. You can find your SRO for more details.

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

When buying or selling property in Pallikaranai, the guideline value plays a crucial role in determining the transaction costs. The guideline value is used to calculate the stamp duty and registration fees that need to be paid during the registration process.

It is essential to note that the guideline value is set by the government and is subject to periodic revisions. Buyers and sellers should be aware of the current guideline value to ensure compliance with legal requirements during property transactions.

Frequently asked questions

What is the current guideline value of I.I.T Colony 5th Street Extension?

The current guideline value of I.I.T Colony 5th Street Extension is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value changed from Rs 3,000 per sq.ft in 2012 to Rs 3,300 per sq.ft in 2024, which is a +10% increase. There are no figures available for the years 2023, 2017, 2007, 2003, and 2002 for this street.

What is the land classification for I.I.T Colony 5th Street Extension?

The land classification for I.I.T Colony 5th Street Extension is Commercial Class I Type - II. This classification affects the guideline value and potential uses of the land.

Where can I find the Sub Registrar Office for I.I.T Colony 5th Street Extension?

The Sub Registrar Office that covers I.I.T Colony 5th Street Extension is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.

How do stamp duty and registration fees work in Pallikaranai?

Stamp duty and registration fees are calculated based on the guideline value of the property or the sale price, whichever is higher. It is important for buyers to be aware of these costs during the property transaction process.