Guideline Value for ILUPPAI THOPPU

Iluppai Thoppu guideline value

The current guideline value of Iluppai Thoppu is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class V Type - III.

How the guideline value of Iluppai Thoppu has changed

The guideline value for Iluppai Thoppu has seen several revisions over the years. In 2002, the guideline value was Rs 612 per sq.ft. This increased to Rs 680 per sq.ft in 2003, marking an increase of 11%. The value continued to rise, reaching Rs 900 per sq.ft in 2007, which was a significant increase of 32%. By 2012, the value had jumped to Rs 3,000 per sq.ft, reflecting a remarkable increase of 233% from the previous revision. However, in 2017, the value dropped to Rs 2,010 per sq.ft, a decrease of 33%.

In 2023, the guideline value increased to Rs 3,000 per sq.ft, and then saw another rise to Rs 3,300 per sq.ft in 2024, which is a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 439%. There are no figures available for the revisions of years not listed for this street.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO, with guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value is Rs 8,800 per sq.ft, placing Iluppai Thoppu's 2024 figure below this median.

• Iilango Street: Rs 8,800 per sq.ft (2024)
• Indirani Ammal Street: Rs 8,800 per sq.ft (2024)
• Irudhayapuram (Dooming Kuppam): Rs 3,300 per sq.ft (2024)
• Irusappa Kiramani Street: Rs 8,800 per sq.ft (2024)
• Gururaja Puram: Rs 8,800 per sq.ft (2024)
• Gurupuram: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Iluppai Thoppu

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. 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 Iluppai Thoppu?

The Sub Registrar Office that covers Iluppai Thoppu is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more information.

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

The guideline value is a crucial reference point used during the registration of property transactions in Mylapore. It helps determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official registry.

When buying or selling property, the guideline value serves as a benchmark for the minimum price at which the property can be registered. This means that the actual sale price cannot be lower than the guideline value, which helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of Iluppai Thoppu?

The current guideline value of Iluppai Thoppu is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 612 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 439% over the years.

What are the stamp duty rates for properties in Iluppai Thoppu?

The stamp duty rate for properties in Iluppai Thoppu is 7%, while the registration fee is 2% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Iluppai Thoppu?

The Sub Registrar Office for Iluppai Thoppu is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It serves as a benchmark to ensure that the property is registered at a fair price, preventing undervaluation.