Guideline Value for IMMANUVEL CROSS STREET

Immanuvel Cross Street guideline value

The current guideline value of Immanuvel Cross Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Immanuvel Cross Street has changed

In the 2012 revision, the guideline value was set at Rs 1,200 per sq.ft. This figure remained unchanged in the 2023 revision, where it was still Rs 1,200 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 1,320 per sq.ft, marking a 10% rise from the previous year. There are no figures available for the years 2002, 2003, 2007, and 2017 for this street in the register.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The changes between the revisions highlight a significant adjustment in the most recent update, reflecting the current valuation of properties in the area.

Guideline values in Pallikaranai

Pallikaranai has a total of 749 streets under the Chennai South Joint I SRO, with 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, placing Immanuvel Cross Street's 2024 figure below that median.

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

Stamp duty and registration fee for property in Immanuvel Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, while the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. It is important to note that 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 Immanuvel Cross Street?

The Sub Registrar Office covering Immanuvel Cross 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 critical factor in property transactions, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration process will be based on the higher of the guideline value or the agreed sale price.

When registering a property, the guideline value ensures that the transaction is documented accurately for taxation purposes. It is essential for both parties to understand the implications of the guideline value on their financial obligations during the buying or selling process.

Frequently asked questions

What is the current guideline value of Immanuvel Cross Street?

The current guideline value of Immanuvel Cross Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 1,320 per sq.ft in 2024, reflecting a 10% increase overall. There were no changes recorded for the years 2003, 2007, and 2017.

What is the land classification for Immanuvel Cross Street?

Immanuvel Cross Street is classified as Residential Class IV Type - II, indicating its use for residential purposes.

What are the stamp duty and registration fees for properties on Immanuvel Cross Street?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft property, these fees total Rs 1,18,800.

Where is the Sub Registrar Office for Immanuvel Cross Street located?

The Sub Registrar Office is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035, under the Chennai South Joint I SRO.