Guideline Value for ISKON PROPERTIES

Iskon Properties guideline value

The current guideline value for Iskon Properties is Rs 2,800 per sq.ft, effective from 1 July 2024. This property is located in Sholinganallur - 1 village, under the Neelankarai SRO, and is classified as Residential Class II Type - II.

How the guideline value of Iskon Properties has changed

The guideline value for Iskon Properties has seen revisions over the years. The most recent revision in 2024 set the value at Rs 2,800 per sq.ft, an increase from Rs 2,500 per sq.ft in the 2023 revision, which reflects a change of +12%. Prior to these years, the register has no figures for the years 2017, 2012, 2007, 2003, and 2002.

In summary, the 2023 revision was Rs 2,500 per sq.ft, and the 2024 revision is Rs 2,800 per sq.ft. The changes indicate a notable increase in the guideline value over this one-year span.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO, with 2024 guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value for the area is Rs 2,200 per sq.ft, placing Iskon Properties above this median.

• Ismail Street: Rs 1,700 per sq.ft (2024)
• Indu Mayana Salai Extension: Rs 1,700 per sq.ft (2024)
• Indu Mayana Pathai: Rs 1,700 per sq.ft (2024)
• Jahir Hussain 1st Street: Rs 1,700 per sq.ft (2024)
• Jahir Hussain 2nd Street: Rs 1,700 per sq.ft (2024)
• Jahir Hussain 3rd Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Iskon Properties

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total fees to Rs 2,52,000. It is important to 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 Iskon Properties?

The Sub Registrar Office that covers Iskon Properties is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value plays a crucial role in the registration process of property transactions in Sholinganallur - 1. It determines the minimum value at which a property can be registered, ensuring that transactions are conducted transparently and fairly.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are essential costs associated with the transfer of property ownership. Buyers and sellers should be aware of these values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value for Iskon Properties?

The current guideline value for Iskon Properties is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed recently?

The guideline value increased from Rs 2,500 per sq.ft in 2023 to Rs 2,800 per sq.ft in 2024, reflecting a +12% change.

What is the land classification for Iskon Properties?

Iskon Properties is classified as Residential Class II Type - II, indicating its intended use for residential purposes.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 28,00,000, the stamp duty at 7% would be Rs 1,96,000.