Guideline Value for INDIAN MEDICAL CO-OPERATIVE EMPLOYEE QUT

Indian Medical Co-Operative Employee Qut guideline value

The current guideline value for Indian Medical Co-Operative Employee Qut is Rs 9,900 per sq.ft, effective from 1 July 2024. This property is located in Thiruvanmiyur village, under the Chennai South Joint I SRO, and is classified as Residential Class I Type - I.

How the guideline value of Indian Medical Co-Operative Employee Qut has changed

Over the years, the guideline value for Indian Medical Co-Operative Employee Qut has seen several revisions. The 2012 revision set the value at Rs 9,000 per sq.ft, which was then reduced to Rs 6,030 per sq.ft in the 2017 revision. However, this value saw a significant increase in the following revisions, with the 2023 revision raising it to Rs 9,000 per sq.ft, followed by the current 2024 revision, which further increased it to Rs 9,900 per sq.ft.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023, and by 10% from 2023 to 2024. The overall change from 2012 to 2024 reflects a 10% increase, despite the dip in the 2017 revision. The register has no figure for the years 2002, 2003, and 2007 for this street.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO, with guideline values for 2024 ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value is Rs 9,900 per sq.ft, which is equal to the current guideline value for Indian Medical Co-Operative Employee Qut.

• Indian Bank Employee Quarters: Rs 9,900 per sq.ft (2024)
• Ilango Nagar Main Road: Rs 7,150 per sq.ft (2024)
• Ilango Nagar: Rs 7,150 per sq.ft (2024)
• Housing Board Colony: Rs 7,150 per sq.ft (2024)
• Indra Nagar 10th Lane: Rs 4,950 per sq.ft (2024)
• Indra Nagar 11th Lane: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Indian Medical Co-Operative Employee Qut

For a 1,000 sq.ft plot at the current guideline value of Rs 9,900 per sq.ft, the total guideline value amounts to Rs 99,00,000. The stamp duty at 7% would be Rs 6,93,000, and the registration fee at 2% would be Rs 1,98,000, bringing the total fees together to Rs 8,91,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Indian Medical Co-Operative Employee Qut?

The Indian Medical Co-Operative Employee Qut falls under 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, Chennai registration zone.

You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Thiruvanmiyur. When a property is bought or sold, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction. Buyers must be aware that these fees are calculated based on the higher of the guideline value or the sale price.

It is essential for both buyers and sellers to understand the implications of the guideline value when planning a transaction. Accurate knowledge of these values can help in budgeting for additional costs associated with property registration.

Frequently asked questions

What is the current guideline value for Indian Medical Co-Operative Employee Qut?

The current guideline value for Indian Medical Co-Operative Employee Qut is Rs 9,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 9,000 per sq.ft in 2012 to Rs 6,030 per sq.ft in 2017, then to Rs 9,000 per sq.ft in 2023, and finally to Rs 9,900 per sq.ft in 2024.

What is the land classification for Indian Medical Co-Operative Employee Qut?

Indian Medical Co-Operative Employee Qut is classified as Residential Class I Type - I.

Where can I find the Sub Registrar Office for this property?

The Sub Registrar Office covering Indian Medical Co-Operative Employee Qut is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.

How is the stamp duty calculated for properties in Thiruvanmiyur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for registration fees.