Guideline Value for IIT COLONY PERUMAL NAGAR

Iit Colony Perumal Nagar guideline value

The current guideline value of Iit Colony Perumal Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of Iit Colony Perumal Nagar has changed

The guideline value for Iit Colony Perumal Nagar has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,750 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 2,500 per sq.ft. Prior to that, the 2012 revision also recorded the value at Rs 2,500 per sq.ft, indicating no change from 2012 to 2023. The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. This reflects the changes made in the most recent years, particularly the jump from 2023 to 2024.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO that carry a guideline value for 2024, ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Iit Colony Perumal Nagar's 2024 figure above this median.

• I.I.T. Colony Extn.: Rs 3,300 per sq.ft (2024)
• I.I.T. Colony 8th Street: Rs 3,300 per sq.ft (2024)
• I.I.T. Colony 7th Street: Rs 3,300 per sq.ft (2024)
• I.I.T. Colony 6th Street: Rs 3,300 per sq.ft (2024)
• I.I.T Colony 5th Street Extension: Rs 3,300 per sq.ft (2024)
• Ilango Adigal Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Iit Colony Perumal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to 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 Iit Colony Perumal Nagar?

The Sub Registrar Office that covers Iit Colony Perumal Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is an important factor in the registration of property transactions in Pallikaranai. It serves as a benchmark for determining the minimum value of a property for the purpose of calculating stamp duty and registration fees.

When buying or selling property, the guideline value ensures that the transaction is registered at a value that reflects the prevailing market conditions. This helps maintain transparency and fairness in property dealings within the region.

Frequently asked questions

What is the current guideline value of Iit Colony Perumal Nagar?

The current guideline value of Iit Colony Perumal Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024, marking a 10% increase. There was no change from 2012 to 2023, and the overall increase from 2012 to 2024 is 10%.

What is the land classification for Iit Colony Perumal Nagar?

The land classification for Iit Colony Perumal Nagar is Residential Special Type - I. This classification indicates the type of residential development allowed in the area.

Where can I find the registration office for Iit Colony Perumal Nagar?

The registration office for Iit Colony Perumal Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for properties in Iit Colony Perumal Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 at a rate of 7%.