Guideline Value for IYAPPAN CROSS STREET

Iyappan Cross Street guideline value

The current guideline value of Iyappan Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Perungudi village under the Neelankarai SRO and is classified as Residential Class IV Type - I.

How the guideline value of Iyappan Cross Street has changed

Since the 2012 revision, the guideline value for Iyappan Cross Street has seen a change from Rs 2,000 per sq.ft to Rs 2,200 per sq.ft in 2024. The 2017 revision recorded a value of Rs 1,340 per sq.ft, which increased by 49% to Rs 2,000 per sq.ft in 2023. The 2012 revision also saw a decrease of 33% from Rs 2,000 per sq.ft to Rs 1,340 per sq.ft in 2017. The register has no figures for the years 2002, 2003, and 2007.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The most recent revision in 2024 reflects a 10% increase from the 2023 value of Rs 2,000 per sq.ft.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value among these streets is Rs 3,300 per sq.ft, indicating that Iyappan Cross Street's 2024 guideline value is below this median.

• Iyappan Ist Street: Rs 2,800 per sq.ft (2024)
• Iyappan Street: Rs 2,800 per sq.ft (2024)
• Industrial Estate: Rs 6,400 per sq.ft (2024)
• JANAKIRAMAN Ist CROSS STREET: Rs 2,800 per sq.ft (2024)
• Heritage Vijayendra Nagar: Rs 2,800 per sq.ft (2024)
• Heramba Ganapathy Nagar: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Iyappan Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. 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 information.

Which Sub Registrar Office covers Iyappan Cross Street?

The Sub Registrar Office that covers Iyappan Cross 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 details.

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

The guideline value is an important factor in property transactions, as it determines the minimum value at which a property can be registered. When you buy or sell property in Perungudi, the guideline value helps in calculating the stamp duty and registration fees that need to be paid at the time of registration.

It is essential to be aware of the guideline value, as it can affect the overall cost of the transaction. Buyers and sellers should ensure that they are informed about the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Iyappan Cross Street?

The current guideline value of Iyappan Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024. It was Rs 1,340 per sq.ft in 2017 and Rs 2,000 per sq.ft in 2012.

What is the land classification of Iyappan Cross Street?

Iyappan Cross Street is classified as Residential Class IV Type - I.

Where can I find the Sub Registrar Office for Iyappan Cross Street?

The Sub Registrar Office for Iyappan Cross Street is the Neelankarai Sub Registrar Office, 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, for a 1,000 sq.ft plot at Rs 2,200 per sq.ft, the stamp duty would be Rs 1,54,000.