Guideline Value for IMAYAM COLONY

Imayam Colony guideline value

The current guideline value of Imayam Colony, located in Villivakkam village under the Villivakkam SRO, is Rs 8,200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Imayam Colony has changed

The guideline value for Imayam Colony has seen several revisions over the years. The earliest recorded revision is from 2002, where the value was Rs 1,056 per sq.ft. This increased to Rs 1,205 per sq.ft in 2003, marking a change of +14%. The value continued to rise, reaching Rs 1,750 per sq.ft in 2007, which is an increase of +45%. In 2012, the value was recorded at Rs 7,500 per sq.ft, showing a significant rise of +329% from the previous revision. However, in 2017, the value dropped to Rs 5,025 per sq.ft, reflecting a decrease of -33%. The guideline value then increased to Rs 7,500 per sq.ft in 2023, and finally, it reached Rs 8,200 per sq.ft in the 2024 revision, which is an increase of +9% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +677%. There are no recorded figures for the revisions in the years that do not have specific values listed for this street.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO, with guideline values for 2024 ranging from Rs 1,600 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, placing Imayam Colony's 2024 figure above this median.

• I.C.F.ANNEX (Near M.T.H.Road): Rs 5,500 per sq.ft (2024)
• I - Block: Rs 9,800 per sq.ft (2024)
• High Court (North) Colony 1st & 2nd Street: Rs 4,400 per sq.ft (2024)
• High Court Colony Main Road: Rs 4,400 per sq.ft (2024)
• High Court Colony Lane: Rs 4,400 per sq.ft (2024)
• HIGH COURT COLONY 2nd STREET: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Imayam Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 8,200 per sq.ft, the total guideline value would be Rs 82,00,000. The stamp duty at 7% would amount to Rs 5,74,000, and the registration fee at 2% would be Rs 1,64,000, bringing the total to Rs 7,38,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Imayam Colony?

The Sub Registrar Office that covers Imayam Colony is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Villivakkam. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during property transactions.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. These fees are based on the higher of the guideline value or the actual sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Imayam Colony?

The current guideline value of Imayam Colony is Rs 8,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,056 per sq.ft in 2002 to Rs 8,200 per sq.ft in 2024, reflecting an overall increase of +677%.

What is the median guideline value in Villivakkam?

The median guideline value in Villivakkam is Rs 4,900 per sq.ft, with Imayam Colony's value being above this median.

What are the stamp duty rates for properties in Imayam Colony?

The stamp duty for properties in Imayam Colony is charged at a rate of 7% on the guideline value or sale price, whichever is higher.

Where is the Villivakkam Sub Registrar Office located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.