Guideline Value for ISHA MERRI LAND

Isha Merri Land guideline value

The current guideline value of Isha Merri Land in Nedunkumdram village is Rs 2,660 per sq.ft, effective from 1 July 2024. This property falls under the Tambaram Joint 1 SRO and is classified as Residential Special Type - V.

How the guideline value of Isha Merri Land has changed

The guideline value for Isha Merri Land has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,660 per sq.ft, which is an increase from the 2023 revision of Rs 2,412 per sq.ft, marking a change of +10%. The register has no figures for the revisions in 2002, 2003, 2007, 2012, and 2017.

Prior to 2023, the guideline values for this street were not recorded in the register. The 2024 figure of Rs 2,660 per sq.ft is above the median value of Rs 2,200 per sq.ft for the 75 streets in Nedunkumdram under the Tambaram Joint 1 SRO.

Guideline values in Nedunkumdram

Nedunkumdram village features a range of guideline values for its streets, with figures varying from Rs 330 to Rs 5,300 per sq.ft. The 2024 guideline value for Isha Merri Land is above the median value of Rs 2,200 per sq.ft.

• Isha Santhosham: Rs 2,970 per sq.ft (2024)
• Isha Shubham: Rs 2,200 per sq.ft (2024)
• Isha Anandham: Rs 1,980 per sq.ft (2024)
• Indirani Nagar: Rs 1,320 per sq.ft (2024)
• Homeland One Phase - II: Rs 3,300 per sq.ft (2024)
• Homeland One Phase -5: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Isha Merri Land

For a 1,000 sq.ft plot at the current guideline value of Rs 2,660 per sq.ft, the total guideline value amounts to Rs 26,60,000. The stamp duty at 7% would be Rs 1,86,200, and the registration fee at 2% would be Rs 53,200, bringing the total fees to Rs 2,39,400. 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 Isha Merri Land?

The Isha Merri Land property falls under the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for additional information.

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

The guideline value is a critical factor in property transactions in Nedunkumdram, 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 it influences the stamp duty and registration fees payable during the transaction.

When a property is sold, the registration office will assess the guideline value to calculate the applicable duties and fees. It is essential for both parties to be aware of the current guideline value to ensure compliance with legal requirements during the sale or purchase process.

Frequently asked questions

What is the current guideline value of Isha Merri Land?

The current guideline value of Isha Merri Land is Rs 2,660 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value has increased from Rs 2,412 per sq.ft in 2023 to Rs 2,660 per sq.ft in 2024, marking a change of +10%.

What is the land classification of Isha Merri Land?

Isha Merri Land is classified as Residential Special Type - V.

Where can I find the registration office for Isha Merri Land?

The registration office for Isha Merri Land is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 26,60,000, with stamp duty at 7% and registration fee at 2%.