Guideline Value for IMAYAM SOCIETY NAGAR - II

Imayam Society Nagar - II guideline value

The current guideline value of Imayam Society Nagar - II is Rs 101 per sq.ft, effective from 1 July 2024. This area is located in Sithathoor village and falls under the Madurandakam SRO. The land classification for this locality is Residential Class II Type - II.

How the guideline value of Imayam Society Nagar - II has changed

Over the years, the guideline value of Imayam Society Nagar - II has experienced several revisions. The 2012 revision set the value at Rs 100 per sq.ft, which then decreased to Rs 67 per sq.ft in the 2017 revision. Following this, the value increased to Rs 100 per sq.ft in 2023 and further rose to Rs 101 per sq.ft in the 2024 revision. Notably, the register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the guideline value increased by 49%. The overall change from 2012 to 2024 shows a slight increase of 1%.

Guideline values in Sithathoor

In Sithathoor, the guideline value of Imayam Society Nagar - II is currently set at Rs 101 per sq.ft. For comparison, other streets in Sithathoor have the following guideline values:

• Imayam Society Nagar: Rs 104 per sq.ft (2024)

Stamp duty and registration fee for property in Imayam Society Nagar - II

For a 1,000 sq.ft plot at the current guideline value of Rs 101 per sq.ft, the total guideline value would be Rs 1,01,000. The stamp duty at 7% would amount to Rs 7,070, and the registration fee at 2% would be Rs 2,020, bringing the total to Rs 9,090. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Imayam Society Nagar - II?

The Sub Registrar Office that covers Imayam Society Nagar - II is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Sithathoor. It serves as the basis for calculating stamp duty and registration fees, which are mandatory during the purchase or sale of property.

When a property is sold, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Imayam Society Nagar - II?

The current guideline value of Imayam Society Nagar - II is Rs 101 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent being an increase from Rs 100 per sq.ft in 2023 to Rs 101 per sq.ft in 2024. The value decreased from Rs 100 per sq.ft in 2012 to Rs 67 per sq.ft in 2017 before rising again.

What is the land classification for Imayam Society Nagar - II?

The land classification for Imayam Society Nagar - II is Residential Class II Type - II, indicating its suitability for residential purposes.

Where is the Madurandakam Sub Registrar Office located?

The Madurandakam Sub Registrar Office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is stamp duty calculated in Imayam Society Nagar - II?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, on a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 7,070.