Guideline Value for I.V.Y NAGAR STREETS

I.V.Y Nagar Streets guideline value

The current guideline value for I.V.Y Nagar Streets is Rs 1,210 per sq.ft, effective from 1 July 2024. This street is located in Thiruninravur-B village under the Avadi SRO, classified as Residential Special Type - III.

How the guideline value of I.V.Y Nagar Streets has changed

In the 2017 revision, the guideline value was Rs 804 per sq.ft. This increased to Rs 1,100 per sq.ft in the 2023 revision, marking a 37% rise. The most recent revision in 2024 saw the value rise further to Rs 1,210 per sq.ft, a 10% increase from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2012.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 50%. This significant change reflects the evolving real estate landscape in the area.

Guideline values in Thiruninravur-B

In Thiruninravur-B, there are 374 streets under the Avadi SRO with a 2024 guideline value ranging from Rs 330 to Rs 1,760 per sq.ft. The median value for these streets is Rs 770 per sq.ft, placing I.V.Y Nagar Streets above this median.

• Jaavar Nagar 1st Cross St: Rs 770 per sq.ft (2024)
• Jaavar Nagar 1st Main St: Rs 770 per sq.ft (2024)
• Jaavar Nagar 2nd Cross St: Rs 770 per sq.ft (2024)
• Jaavar Nagar 2nd Main St: Rs 770 per sq.ft (2024)
• Jaavar Nagar 3rd Cross St: Rs 770 per sq.ft (2024)
• Jaavar Nagar 4th Cross St: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in I.V.Y Nagar Streets

For a 1,000 sq.ft plot at the current guideline value of Rs 1,210 per sq.ft, the total guideline value amounts to Rs 12,10,000. The stamp duty is calculated at 7%, resulting in Rs 84,700, while the registration fee at 2% amounts to Rs 24,200. Together, the total cost for these fees is Rs 1,08,900. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers I.V.Y Nagar Streets?

The I.V.Y Nagar Streets are covered by the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Thiruninravur-B

The guideline value plays a crucial role during the registration of property transactions in Thiruninravur-B. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is considered alongside the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the transaction aligns with the current market standards set by the Registration Department.

Frequently asked questions

What is the current guideline value for I.V.Y Nagar Streets?

The current guideline value for I.V.Y Nagar Streets is Rs 1,210 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 804 per sq.ft to Rs 1,210 per sq.ft in 2024, marking a total increase of 50% over this period.

What are the stamp duty and registration fees for a property in I.V.Y Nagar Streets?

The total stamp duty for a property valued at Rs 12,10,000 is Rs 84,700, while the registration fee is Rs 24,200, bringing the total fees to Rs 1,08,900.

Which Sub Registrar Office covers I.V.Y Nagar Streets?

The Avadi Sub Registrar Office covers I.V.Y Nagar Streets, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

What is the land classification for I.V.Y Nagar Streets?

I.V.Y Nagar Streets are classified as Residential Special Type - III, indicating their intended use for residential purposes.