Guideline Value for IBRAHIM STREET

Ibrahim Street guideline value

The current guideline value of Ibrahim Street in Enjambakkam village, under the Neelankarai SRO, is Rs 1,700 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class IV Type - I land classification.

How the guideline value of Ibrahim Street has changed

The guideline value for Ibrahim Street has seen several revisions over the years. The earliest recorded figure is from 2003, which was Rs 352 per sq.ft. This value increased significantly to Rs 750 per sq.ft in 2007, marking a 113% rise. In 2012, the value was revised to Rs 1,500 per sq.ft, which was a 100% increase from the previous figure. However, in 2017, it decreased to Rs 1,005 per sq.ft, a drop of 33%. The next revision in 2023 saw the value rise to Rs 1,500 per sq.ft, followed by the current figure of Rs 1,700 per sq.ft in 2024, reflecting a 13% increase.

Overall, from the initial value in 2003 to the current value in 2024, there has been a substantial increase of 383%. Notably, there is no figure available for the year 2002 in the register for this street.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 7,200 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Ibrahim Street is below this median.

• Hil Christ Form: Rs 2,200 per sq.ft (2024)
• Harichandran 3rd Cross Street: Rs 2,800 per sq.ft (2024)
• HARICHANDRA 3rd CROSS: Rs 2,800 per sq.ft (2024)
• Guru Enclave: Rs 1,700 per sq.ft (2024)
• Gowri Ammn Koil Street (Near Ecr): Rs 3,300 per sq.ft (2024)
• Gowri Amman Koil Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Ibrahim Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ibrahim Street?

The Sub Registrar Office that covers Ibrahim Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Enjambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. When a property is sold, the buyer must pay the stamp duty and registration fees based on this guideline value or the sale price, whichever is higher.

During the registration process, the guideline value ensures that the property is assessed fairly and that the government receives the appropriate revenue from property transactions. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Ibrahim Street?

The current guideline value of Ibrahim Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 352 per sq.ft in 2003 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 383% over the years.

What is the land classification of Ibrahim Street?

Ibrahim Street is classified as Residential Class IV Type - I according to the guideline value register.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in Ibrahim Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 1,19,000.