Guideline Value for IMAYAM COLONY 1st STREET

IMAYAM COLONY 1st STREET guideline value

The current guideline value of IMAYAM COLONY 1st STREET in Padi village, under the Villivakkam SRO, is Rs 7,100 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - II land classification.

How the guideline value of IMAYAM COLONY 1st STREET has changed

The guideline value for IMAYAM COLONY 1st STREET has seen significant changes over the years. In 2007, the value was Rs 1,650 per sq.ft, which increased to Rs 6,500 per sq.ft in 2012, marking a substantial rise of 294%. However, from 2012 to 2017, the value decreased to Rs 4,355 per sq.ft, a decline of 33%. The value then rose again to Rs 6,500 per sq.ft in 2023, and further increased to Rs 7,100 per sq.ft in 2024, reflecting a growth of 9%.

Overall, from 2007 to 2024, the guideline value has increased by 330%. The revisions for the years 2002 and 2003 do not have figures available for this street.

Guideline values in Padi

In Padi, there are 354 streets under the Villivakkam SRO, with the 2024 guideline values ranging from Rs 2,200 to Rs 13,200 per sq.ft. The median value is Rs 3,800 per sq.ft, and IMAYAM COLONY 1st STREET's 2024 figure is above this median.

• IMAYAM COLONY 2nd STREET: Rs 7,100 per sq.ft (2024)
• Imayam Colony: Rs 8,200 per sq.ft (2024)
• IMAYAM COLONY 3rd STREET: Rs 7,100 per sq.ft (2024)
• I.C.C.Plots: Rs 8,200 per sq.ft (2024)
• Indian Flats: Rs 9,900 per sq.ft (2024)
• Indian Railway Welfare Association Nagar (Rail Nagar): Rs 5,400 per sq.ft (2024)

Stamp duty and registration fee for property in IMAYAM COLONY 1st STREET

For a 1,000 sq.ft plot at the current rate of Rs 7,100 per sq.ft, the guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, totaling Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers IMAYAM COLONY 1st STREET?

The Sub Registrar Office that covers IMAYAM COLONY 1st STREET is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Padi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold or bought, the guideline value is considered to ensure that the transaction is registered at a value that reflects the current market standards set by the Registration Department. This helps in maintaining transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of IMAYAM COLONY 1st STREET?

The current guideline value of IMAYAM COLONY 1st STREET is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 1,650 per sq.ft in 2007 to Rs 7,100 per sq.ft in 2024, which is an overall increase of 330%.

What are the other streets in Padi with their guideline values?

Other streets in Padi include IMAYAM COLONY 2nd STREET and IMAYAM COLONY 3rd STREET, both valued at Rs 7,100 per sq.ft in 2024, while Imayam Colony is valued at Rs 8,200 per sq.ft.

What is the stamp duty for property in IMAYAM COLONY 1st STREET?

The stamp duty for property in IMAYAM COLONY 1st STREET is 7% of the guideline value, which for a 1,000 sq.ft plot amounts to Rs 4,97,000.

Which office handles registrations for IMAYAM COLONY 1st STREET?

The Villivakkam Sub Registrar Office handles registrations for IMAYAM COLONY 1st STREET, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.