Guideline Value for IMAYAM COLONY 2nd STREET

IMAYAM COLONY 2nd STREET guideline value

The current guideline value of IMAYAM COLONY 2nd STREET is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Padi village under the Villivakkam SRO and is classified as Residential Class II Type - II.

How the guideline value of IMAYAM COLONY 2nd STREET has changed

Over the years, the guideline value for IMAYAM COLONY 2nd STREET has seen significant changes. In 2007, the value was Rs 1,650 per sq.ft, which increased to Rs 6,500 per sq.ft in 2012. However, there was a decrease to Rs 4,355 per sq.ft in 2017. Following this, the value rose sharply to Rs 6,500 per sq.ft in 2023, and then to Rs 7,100 per sq.ft in 2024, marking a 9% increase from the previous year.

From 2017 to 2023, the increase was notable at 49%. The 2012 to 2017 period saw a decline of 33%. The increase from 2007 to 2012 was substantial at 294%. Overall, from 2007 to 2024, the guideline value has increased by 330%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Padi

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

• IMAYAM COLONY 1st STREET: Rs 7,100 per sq.ft (2024)
• IMAYAM COLONY 3rd STREET: Rs 7,100 per sq.ft (2024)
• Imayam Colony: Rs 8,200 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 2nd STREET

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

Which Sub Registrar Office covers IMAYAM COLONY 2nd STREET?

The Sub Registrar Office covering IMAYAM COLONY 2nd 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 information.

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

The guideline value is a crucial figure used during the registration of property transactions in Padi. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of IMAYAM COLONY 2nd STREET?

The current guideline value of IMAYAM COLONY 2nd 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 from Rs 1,650 per sq.ft in 2007 to Rs 7,100 per sq.ft in 2024, marking an overall increase of 330% over the years.

What are the stamp duty rates for properties in Padi?

The stamp duty for properties in Padi is 7% of the guideline value or sale price, whichever is higher. Registration fees are charged at 2%.

Which office do I need to visit for property registration in IMAYAM COLONY 2nd STREET?

The Villivakkam Sub Registrar Office is responsible for property registration in IMAYAM COLONY 2nd STREET. It is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the median guideline value for streets in Padi?

The median guideline value for streets in Padi is Rs 3,800 per sq.ft, with IMAYAM COLONY 2nd STREET's value being above this median at Rs 7,100 per sq.ft.