Guideline Value for I.N.T.U.C Nagar

I.N.T.U.C Nagar guideline value

The current guideline value of I.N.T.U.C Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Soorapattu village under the Ambattur SRO, classified as Residential Class II Type - I.

How the guideline value of I.N.T.U.C Nagar has changed

Over the years, the guideline value of I.N.T.U.C Nagar has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,200 per sq.ft, and the latest revision in 2024 has raised it further to Rs 1,300 per sq.ft, marking an 8% increase from 2023 to 2024.

From 2017 to 2023, there was a significant increase of 49%. However, the change from the 2012 revision to the 2017 revision saw a decrease of 33%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has increased by 8%.

Guideline values in Soorapattu

In Soorapattu village, there are 115 streets under the Ambattur SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 5,100 per sq.ft. The median value for these streets is Rs 1,300 per sq.ft, which is equal to the current guideline value of I.N.T.U.C Nagar.

• Jasmine Nagar: Rs 1,900 per sq.ft (2024)
• Jasmin Nagar Extn: Rs 2,400 per sq.ft (2024)
• Jayam Nagar: Rs 1,200 per sq.ft (2024)
• Jayam Nagar Extn: Rs 1,200 per sq.ft (2024)
• J.P.Nagar: Rs 2,200 per sq.ft (2024)
• J.P. Nagar(1st Street): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in I.N.T.U.C Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. Please note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers I.N.T.U.C Nagar?

The Sub Registrar Office that covers I.N.T.U.C Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Soorapattu. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. This ensures that the transaction is recorded accurately and that the government receives the appropriate revenue from property sales.

When you buy or sell property in I.N.T.U.C Nagar, it is essential to refer to the latest guideline value to understand the financial implications of the transaction. The guideline value helps both buyers and sellers to have a clear understanding of the property's worth as per government standards.

Frequently asked questions

What is the current guideline value of I.N.T.U.C Nagar?

The current guideline value of I.N.T.U.C Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification for I.N.T.U.C Nagar?

I.N.T.U.C Nagar is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for I.N.T.U.C Nagar?

The Sub Registrar Office for I.N.T.U.C Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for property in I.N.T.U.C Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at 7%.