Guideline Value for IMAYAM SOCIETY NAGAR

Imayam Society Nagar guideline value

The current guideline value of Imayam Society Nagar is Rs 104 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 Special Type - I.

How the guideline value of Imayam Society Nagar has changed

Over the years, the guideline value of Imayam Society Nagar has seen several revisions. The earliest available revision is from 2012, where the value was Rs 70 per sq.ft. This was followed by a decrease to Rs 47 per sq.ft in 2017. However, from 2017 to 2023, the value increased significantly to Rs 100 per sq.ft, marking a 113% rise. The most recent revision in 2024 has further increased the guideline value to Rs 104 per sq.ft, reflecting a 4% increase from the previous year.

In summary, from 2012 to 2024, the overall change in the guideline value is a positive 49%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Sithathoor

Imayam Society Nagar is part of the Sithathoor village, which has other streets with their own guideline values. Below are the other streets in Sithathoor along with their respective guideline values:

• Imayam Society Nagar - II: Rs 101 per sq.ft (2024)

Stamp duty and registration fee for property in Imayam Society Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 104 per sq.ft, the total guideline value amounts to Rs 1,04,000. The stamp duty at 7% would be Rs 7,280, while the registration fee at 2% would be Rs 2,080. Together, the total cost for stamp duty and registration fee would be Rs 9,360. 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 details.

Which Sub Registrar Office covers Imayam Society Nagar?

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

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 is used to determine the stamp duty and registration fees that need to be paid during the buying or selling of property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used for calculating 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 Society Nagar?

The current guideline value of Imayam Society Nagar is Rs 104 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 70 per sq.ft in 2012 to Rs 104 per sq.ft in 2024, showing an overall increase of 49% over this period.

What is the stamp duty rate for property transactions in Imayam Society Nagar?

The stamp duty rate for property transactions in Imayam Society Nagar is 7% of the guideline value or the sale price, whichever is higher.

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.

Are there other streets in Sithathoor with different guideline values?

Yes, there are other streets in Sithathoor with different guideline values. For example, Imayam Society Nagar - II has a guideline value of Rs 101 per sq.ft as of 2024.