Guideline Value for IRA NAGAR PALLAVA MANNAN STREET

Ira Nagar Pallava Mannan Street guideline value

The current guideline value of Ira Nagar Pallava Mannan Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Perumbakkam village under the Selaiyur SRO, classified as Residential Class II Type - II.

How the guideline value of Ira Nagar Pallava Mannan Street has changed

In the 2012 revision, the guideline value was Rs 1,500 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 1,005 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 1,500 per sq.ft in the 2023 revision, followed by a further increase to Rs 1,600 per sq.ft in the 2024 revision, representing a 7% rise.

From 2017 to 2023, the guideline value saw a substantial increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, there has been a modest increase of 7%. The register has no figures for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Perumbakkam

In Perumbakkam, there are 225 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft. The median guideline value for these streets is Rs 2,725 per sq.ft, indicating that Ira Nagar Pallava Mannan Street's 2024 figure is below this median.

• Inidhra Priyadharshini Nagar: Rs 3,300 per sq.ft (2024)
• Isha Ishtabhumi: Rs 3,500 per sq.ft (2024)
• Indra Nagar: Rs 1,600 per sq.ft (2024)
• Indira Nagar Kamarajar Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Vivekanandar Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Vivekanandar 1st-5th Cross Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Ira Nagar Pallava Mannan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to 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 guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ira Nagar Pallava Mannan Street?

The Sub Registrar Office that covers Ira Nagar Pallava Mannan Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Perumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with the registration requirements.

When a property is sold, the guideline value will influence the calculation of stamp duty and registration fees. This means that both buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Ira Nagar Pallava Mannan Street?

The current guideline value of Ira Nagar Pallava Mannan Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has fluctuated, starting from Rs 1,500 per sq.ft in 2012, dropping to Rs 1,005 per sq.ft in 2017, and then rising to Rs 1,500 per sq.ft in 2023, before reaching Rs 1,600 per sq.ft in 2024.

What are the other streets in Perumbakkam with similar guideline values?

Other streets in Perumbakkam under the Selaiyur SRO include Indra Nagar, Indira Nagar Kamarajar Street, and Indira Nagar Vivekanandar Street, all with a guideline value of Rs 1,600 per sq.ft in 2024.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 16,00,000 would incur a stamp duty of Rs 1,12,000 at 7%.

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

The Selaiyur Sub Registrar Office covers Ira Nagar Pallava Mannan Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.