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_B 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. The 2017 revision set the value at Rs 295 per sq.ft. This increased to Rs 441 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 saw the guideline value further increase to Rs 485 per sq.ft, reflecting a 10% rise from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Vichoor_B

In Vichoor_B, 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 guideline value for these streets is Rs 485 per sq.ft, which is equal to the current 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 is calculated at 7%, amounting to Rs 33,950, while the registration fee at 2% would be Rs 9,700. Together, the total cost for stamp duty and registration fees would be 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 information, 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 details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vichoor_B. It is used to determine the stamp duty and registration fees, which are mandatory costs associated with property transactions.

When a property is sold, the guideline value is considered to ensure that the registration fees reflect the property's value accurately. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their 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?

Since the 2017 revision, the guideline value has increased from Rs 295 per sq.ft to Rs 485 per sq.ft in 2024. This represents an overall increase of 64% over the seven-year period.

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

The stamp duty rate for properties in I.J Puram is set at 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.

What is the median guideline value for streets in Vichoor_B?

The median guideline value for streets in Vichoor_B is Rs 485 per sq.ft, which is also the guideline value for I.J Puram in 2024.