Guideline Value for ISHA HOMES

Isha Homes guideline value

The current guideline value for Isha Homes in Jelandianpettai village is Rs 2,750 per sq.ft, effective from 1 July 2024. This property falls under the Chennai South Joint I SRO and is classified as Residential Class I Type - I.

How the guideline value of Isha Homes has changed

Over the years, the guideline value for Isha Homes has seen several revisions. The earliest recorded figure is from 2012, which was Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in 2017. In 2023, the guideline value increased to Rs 2,500 per sq.ft, and the most recent revision in 2024 has set the value at Rs 2,750 per sq.ft. The changes between these revisions include a 10% increase from 2023 to 2024 and a significant 49% increase from 2017 to 2023. Overall, from 2012 to 2024, there has been a 10% increase.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street. The 2012 revision set the value at Rs 2,500 per sq.ft, and after a drop in 2017, the value has steadily increased in subsequent revisions.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing Isha Homes above this median with its current value of Rs 2,750 per sq.ft.

• Jaganathan Street: Rs 2,200 per sq.ft (2024)
• Jaganathapuram: Rs 2,200 per sq.ft (2024)
• Jaganathapuram Cross Street: Rs 2,200 per sq.ft (2024)
• Jagatha Nagar: Rs 2,200 per sq.ft (2024)
• Indira Gandhi Street: Rs 2,200 per sq.ft (2024)
• Indira Gandhi Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Isha Homes

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000. Together, these fees would total Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Isha Homes?

The Isha Homes property is covered by 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 details.

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

The guideline value plays a crucial role during the registration process of property transactions in Jelandianpettai. It serves as a reference point for determining the stamp duty and registration fees that must be paid when buying or selling property.

When a property is registered, the higher value between the guideline value and the sale price is considered for calculating the applicable duties and fees. This ensures that the registration reflects a fair valuation based on the established guideline values.

Frequently asked questions

What is the current guideline value of Isha Homes?

The current guideline value of Isha Homes in Jelandianpettai is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 2,500 per sq.ft in 2012, dropping to Rs 1,675 per sq.ft in 2017, and then increasing to Rs 2,500 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 2,750 per sq.ft.

What are the other streets in Jelandianpettai?

Other streets in Jelandianpettai under the Chennai South Joint I SRO include Jaganathan Street, Jaganathapuram, Jaganathapuram Cross Street, Jagatha Nagar, Indira Gandhi Street, and Indira Gandhi Cross Street, all valued at Rs 2,200 per sq.ft in 2024.

How is stamp duty calculated for Isha Homes?

Stamp duty for Isha Homes is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the guideline value is Rs 27,50,000, leading to a stamp duty of Rs 1,92,500.

Which Sub Registrar Office covers the registration for Isha Homes?

The registration for Isha Homes is handled by 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.