Guideline Value for IMAYAM COLONY 3rd STREET

IMAYAM COLONY 3rd STREET guideline value

The current guideline value of IMAYAM COLONY 3rd STREET is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Padi village under the Villivakkam SRO, classified as Residential Class II Type - II.

How the guideline value of IMAYAM COLONY 3rd STREET has changed

The guideline value for IMAYAM COLONY 3rd STREET has undergone several revisions over the years. The earliest recorded figure is from 2007, which was Rs 1,650 per sq.ft. This increased significantly to Rs 6,500 per sq.ft in 2012, marking a rise of 294%. However, the value then decreased to Rs 4,355 per sq.ft in 2017, a drop of 33%. The value saw a substantial increase to Rs 6,500 per sq.ft in 2023, followed by a further rise to Rs 7,100 per sq.ft in 2024, reflecting a change of 9% from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 330%. There are no recorded figures for the years 2002 and 2003 for this street in the register.

Guideline values in Padi

In Padi, there are 354 streets under the Villivakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 13,200 per sq.ft. The median value for these streets is Rs 3,800 per sq.ft, making the 2024 figure for IMAYAM COLONY 3rd STREET above the median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be 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.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers IMAYAM COLONY 3rd STREET?

The Sub Registrar Office that covers IMAYAM COLONY 3rd 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 plays a crucial role during the registration of property transactions in Padi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of property registration.

When buying or selling property, the guideline value is referenced to ensure that the transaction adheres to the legal requirements set forth by the Registration Department. This helps in maintaining transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of IMAYAM COLONY 3rd STREET?

The current guideline value of IMAYAM COLONY 3rd 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, showing an overall increase of 330% over the years.

What is the stamp duty rate applicable for properties in IMAYAM COLONY 3rd STREET?

The stamp duty rate applicable for properties in IMAYAM COLONY 3rd STREET is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for IMAYAM COLONY 3rd STREET?

The Sub Registrar Office for IMAYAM COLONY 3rd STREET is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification of IMAYAM COLONY 3rd STREET?

IMAYAM COLONY 3rd STREET is classified as Residential Class II Type - II under the Villivakkam SRO.