Guideline Value for ISMAIL STREET

Ismail Street guideline value

The current guideline value of Ismail Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in the Sholinganallur - 1 village under the Neelankarai SRO, with a land classification of Residential Class IV Type - I.

How the guideline value of Ismail Street has changed

The guideline value of Ismail Street has seen several revisions over the years. The 2017 revision recorded a value of Rs 1,005 per sq.ft, which increased to Rs 1,500 per sq.ft in the 2023 revision. The latest 2024 revision has further raised this value to Rs 1,700 per sq.ft, marking a 13% increase from the previous year. Overall, from 2017 to 2024, the guideline value has risen by 69%.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for Ismail Street. This lack of data means that the changes in guideline value during those years cannot be assessed.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are a total of 754 streets under the Neelankarai SRO that have a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft, with a median value of Rs 2,200 per sq.ft. Ismail Street's 2024 guideline value of Rs 1,700 per sq.ft is below this median.

• Iskon Properties: Rs 2,800 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 Ismail Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, while the registration fee at 2% would be Rs 34,000. Together, these fees total Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ismail Street?

The Sub Registrar Office that covers Ismail Street 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 information.

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 when buying or selling property in Sholinganallur - 1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to calculate the applicable fees, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction. This helps maintain transparency in property dealings.

Frequently asked questions

What is the current guideline value of Ismail Street?

The current guideline value of Ismail Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Ismail Street has increased from Rs 1,005 per sq.ft in 2017 to Rs 1,700 per sq.ft in 2024, reflecting a 69% overall increase over this period.

What are the stamp duty and registration fees for Ismail Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 17,00,000, leading to a stamp duty of Rs 1,19,000 and a registration fee of Rs 34,000, totaling Rs 1,53,000.

Which Sub Registrar Office covers Ismail Street?

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

What is the land classification of Ismail Street?

Ismail Street is classified as Residential Class IV Type - I, indicating its designation for residential use under the Neelankarai SRO.