Guideline Value for IMRAN NAGAR

Imran Nagar guideline value

The current guideline value of Imran Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Korattur village and falls under the Villivakkam SRO. The land classification for this street is Residential Class III Type - III.

How the guideline value of Imran Nagar has changed

Over the years, the guideline value of Imran Nagar has seen significant changes. The earliest recorded figure is from 2002, where the guideline value was Rs 144 per sq.ft. This value rose to Rs 375 per sq.ft in 2007, marking an increase of 160%. In 2012, the value was Rs 1,500 per sq.ft, reflecting a substantial increase of 300% from the previous revision. However, in 2017, the value dropped to Rs 1,005 per sq.ft, a decrease of 33%. The guideline value then increased to Rs 1,500 per sq.ft in 2023, and it has now risen to Rs 1,600 per sq.ft in 2024, which is a 7% increase.

It is important to note that there is no figure available for the year 2003 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 1011%, showcasing the fluctuations over the years.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, positioning Imran Nagar's 2024 figure below this median.

• Hiways Nagar: Rs 1,600 per sq.ft (2024)
• Hindustan Motor's Nagar: Rs 1,600 per sq.ft (2024)
• Hajmir Kaja Nagar: Rs 1,600 per sq.ft (2024)
• Haji Nagar: Rs 1,600 per sq.ft (2024)
• Gurusamy Nagar: Rs 1,600 per sq.ft (2024)
• Iyyappa Nagar (Near Vanasakthi Nagar): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Imran Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. 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 details.

Which Sub Registrar Office covers Imran Nagar?

The Sub Registrar Office that covers Imran Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Korattur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the registration fees and stamp duties are calculated appropriately.

When buying or selling property, the guideline value helps in assessing the fair value of the property. Buyers and sellers must consider this value to ensure compliance with the legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Imran Nagar?

The current guideline value of Imran Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has fluctuated significantly from Rs 144 per sq.ft in 2002 to Rs 1,600 per sq.ft in 2024, with various increases and decreases in between.

What is the registration office for Imran Nagar?

The Villivakkam Sub Registrar Office covers Imran Nagar, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What are the stamp duty and registration fees for property in Imran Nagar?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

What is the land classification for Imran Nagar?

The land classification for Imran Nagar is Residential Class III Type - III, indicating its designated use for residential purposes.