Guideline Value for IIT NAGAR PART II

Iit Nagar Part II guideline value

The current guideline value of Iit Nagar Part II is Rs 1,493 per sq.ft. This property is located in Velichai village, under the Thiruporur Sub Registrar Office (SRO). The land classification for this area is Residential Special Type - III.

How the guideline value of Iit Nagar Part II has changed

The guideline value for Iit Nagar Part II has undergone several revisions over the years. The 2017 revision set the value at Rs 1,000 per sq.ft, which marked a significant increase from previous years. The latest revision in 2023 has raised this figure to Rs 1,493 per sq.ft, reflecting a change of +49% from the 2017 rate.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, 2012, and 2024 for this street. Therefore, the only available guideline values are from the years 2017 and 2023.

Guideline values in Velichai

Currently, there are no specific village figures provided for Velichai. Iit Nagar Part II is part of the guideline value structure for this village. There are no other streets in Velichai listed under the Thiruporur SRO.

Stamp duty and registration fee for property in Iit Nagar Part II

For a 1,000 sq.ft plot at the current rate of Rs 1,493 per sq.ft, the guideline value totals Rs 14,93,000. The stamp duty at 7% would be Rs 1,04,510, while the registration fee at 2% amounts to Rs 29,860. Together, these fees total Rs 1,34,370. It is essential to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Iit Nagar Part II?

The Iit Nagar Part II area is covered by the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Velichai. It serves as the basis for calculating the stamp duty and registration fees that need to be paid when a property is bought or sold.

When you register a property, the guideline value helps determine the official value of the property for taxation purposes. This ensures that the correct amount of stamp duty is collected based on either the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Iit Nagar Part II?

The current guideline value of Iit Nagar Part II is Rs 1,493 per sq.ft as per the 2023 revision.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased from Rs 1,000 per sq.ft to Rs 1,493 per sq.ft, which is a change of +49%.

Are there any guideline values available for the years 2002, 2003, 2007, and 2012?

No, the register has no figures for Iit Nagar Part II in the years 2002, 2003, 2007, and 2012.

What are the stamp duty and registration fees for a property in Iit Nagar Part II?

The stamp duty is calculated at 7% and the registration fee at 2% of the guideline value. For a 1,000 sq.ft property, the total fees would amount to Rs 1,34,370.

Where is the Thiruporur Sub Registrar Office located?

The Thiruporur Sub Registrar Office is located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.