Guideline Value for IMMANUEL STREET

Immanuel Street guideline value

The current guideline value of Immanuel Street in Pallikaranai village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - I.

How the guideline value of Immanuel Street has changed

Over the years, the guideline value of Immanuel Street has seen significant changes. The earliest recorded figure is from 2002, where the value was Rs 84 per sq.ft. This increased to Rs 99 per sq.ft in 2003, marking an 18% rise. The value then surged to Rs 400 per sq.ft in 2007, a substantial increase of 304%. By 2012, the guideline value remained at Rs 1,500 per sq.ft, with no change noted until 2023. In 2023, the value was again recorded at Rs 1,500 per sq.ft, but in 2024, it rose to Rs 1,650 per sq.ft, reflecting a 10% increase.

The register has no figure for the year 2017 for this street. Overall, from 2002 to 2024, the guideline value has increased by 1864%.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO, with the 2024 guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which is also the current value for Immanuel Street.

• Immanuvel 1st Cross Street: Rs 1,650 per sq.ft (2024)
• Immanuvel 2nd Cross Street: Rs 1,650 per sq.ft (2024)
• Immanuvel Cross Street: Rs 1,320 per sq.ft (2024)
• Immanuvel Main Road: Rs 1,320 per sq.ft (2024)
• Ilango Adigal Street / Periyar Nagar: Rs 2,200 per sq.ft (2024)
• Ilango Adigal Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Immanuel Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Immanuel Street?

The Sub Registrar Office that covers Immanuel Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Pallikaranai. It is used to determine the stamp duty and registration fees applicable when a property is bought or sold. The registration process ensures that the transaction is recorded officially, and the guideline value helps in calculating the taxes owed to the government.

When a buyer or seller engages in a property transaction, the guideline value provides a standardized measure for assessing the property's worth. This ensures transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Immanuel Street?

The current guideline value of Immanuel Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 84 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 1864% over the years.

What are the stamp duty and registration fees for property in Immanuel Street?

For a 1,000 sq.ft property, the total guideline value is Rs 16,50,000. The stamp duty would be Rs 1,15,500, and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which Sub Registrar Office covers Immanuel Street?

The Chennai South Joint I Sub Registrar Office covers Immanuel Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the land classification for Immanuel Street?

Immanuel Street is classified as Residential Class IV Type - I under the Chennai South Joint I SRO.