Guideline Value for I.J PURAM

I.J Puram guideline value

The current guideline value of I.J Puram is Rs 485 per sq.ft, effective from 1 July 2024. This street is located in Vichoor village, under the Thiruvottiyur SRO, and is classified as Residential Class I Type - I.

How the guideline value of I.J Puram has changed

The guideline value for I.J Puram has undergone several revisions over the years. Starting from the 2007 revision, the value was Rs 250 per sq.ft. This increased to Rs 440 per sq.ft in 2012, followed by a decrease to Rs 295 per sq.ft in 2017. The 2023 revision saw the value rise to Rs 441 per sq.ft, and the most recent 2024 revision set it at Rs 485 per sq.ft. The register has no figures for the years 2002 and 2003.

Examining the changes, we see that from 2007 to 2012, there was a significant increase of 76%. However, from 2012 to 2017, the value decreased by 33%. The value then rose by 49% from 2017 to 2023, and the most recent increase from 2023 to 2024 is 10%. Overall, from 2007 to 2024, the guideline value has increased by 94%.

Guideline values in Vichoor

In Vichoor, there are 45 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 330 to Rs 550 per sq.ft. The median value is Rs 485 per sq.ft, which is equal to the guideline value of I.J Puram.

• Jagan Nagar: Rs 485 per sq.ft (2024)
• Jagan Nagar Ext: Rs 485 per sq.ft (2024)
• Jayalakshmi Nagar: Rs 485 per sq.ft (2024)
• Jovan Nagar: Rs 485 per sq.ft (2024)
• Ganapathi Nagar: Rs 485 per sq.ft (2024)
• F D Nagar: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in I.J Puram

For a 1,000 sq.ft plot at the current guideline value of Rs 485 per sq.ft, the total guideline value would be Rs 4,85,000. The stamp duty at 7% would amount to Rs 33,950, and the registration fee at 2% would be Rs 9,700, bringing the total fees to Rs 43,650. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers I.J Puram?

The Sub Registrar Office that covers I.J Puram is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Vichoor. It serves as a reference point for determining the stamp duty and registration fees when buying or selling property. The guideline value is set by the Registration Department and is revised periodically, reflecting changes in the local real estate market.

When a property is registered, the guideline value is used to calculate the applicable duties and fees. Buyers and sellers should be aware that the stamp duty is charged based on the higher of the guideline value or the actual sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of I.J Puram?

The current guideline value of I.J Puram is Rs 485 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 485 per sq.ft in 2024, reflecting an overall increase of 94% over the years.

What is the stamp duty rate for properties in I.J Puram?

The stamp duty rate for properties in I.J Puram is 7% of the guideline value or the sale price, whichever is higher.

Where is the Thiruvottiyur Sub Registrar Office located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It is charged based on the higher of the guideline value or the sale price, ensuring accurate revenue collection for the government.