Guideline Value for IVY Garden

IVY Garden guideline value

The current guideline value of IVY Garden, located in Perumbakkam village, under the Selaiyur SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - IV.

How the guideline value of IVY Garden has changed

Over the years, the guideline value of IVY Garden has seen several revisions. The register has no figure for the years 2002, 2003, 2007, 2012, and 2017. The most recent figures are from the 2023 revision at Rs 2,505 per sq.ft, which was an increase from the previous years. The 2024 revision shows an increase of 8% from the 2023 figure, bringing the guideline value to Rs 2,700 per sq.ft.

This change reflects a consistent upward trend in the guideline value, with the 2023 revision marking the last recorded figure before the current rate. The increase from Rs 2,505 to Rs 2,700 demonstrates an adjustment in the valuation of properties in this area.

Guideline values in Perumbakkam

In Perumbakkam, there are 225 streets under the Selaiyur SRO that have a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft. The median guideline value in this area is Rs 2,725 per sq.ft, positioning IVY Garden's 2024 figure below this median.

• Isha Ishtabhumi: Rs 3,500 per sq.ft (2024)
• Ira Nagar Pallava Mannan Street: Rs 1,600 per sq.ft (2024)
• Inidhra Priyadharshini Nagar: Rs 3,300 per sq.ft (2024)
• Indra Nagar: Rs 1,600 per sq.ft (2024)
• Indira Ngar Kamarajar Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Vivekanandar Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in IVY Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees to Rs 2,43,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers IVY Garden?

IVY Garden falls under 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 plays a crucial role in the registration process of property transactions in Perumbakkam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling a property, the guideline value is compared against the sale price. If the sale price is higher than the guideline value, the stamp duty will be calculated based on the sale price. This ensures that the registration process reflects the true value of the property being transacted.

Frequently asked questions

What is the current guideline value of IVY Garden?

The current guideline value of IVY Garden is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of IVY Garden has changed from Rs 2,505 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024, marking an increase of 8%.

What is the land classification for IVY Garden?

IVY Garden is classified as Residential Class I Type - IV, which indicates its designation for residential use.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in IVY Garden?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 at 7%.