Guideline Value for IYAPPAN IST STREET

Iyappan Ist Street guideline value

The current guideline value of Iyappan Ist Street is Rs 2,800 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 III Type - I.

How the guideline value of Iyappan Ist Street has changed

Looking at the historical revisions, the guideline value for Iyappan Ist Street has seen significant changes over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased by 49% to reach Rs 2,500 per sq.ft, and in the latest 2024 revision, it further increased to Rs 2,800 per sq.ft, marking a 12% rise from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 12%.

Guideline values in Perungudi

In Perungudi village, there are 249 streets under the Neelankarai SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft, with a median value of Rs 3,300 per sq.ft. Iyappan Ist Street's 2024 figure is below this median.

• Iyappan Cross Street: Rs 2,200 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 Ist Street

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, while the registration fee at 2% would be Rs 56,000. Therefore, the combined cost for stamp duty and registration fee would be 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, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Iyappan Ist Street?

The Iyappan Ist Street falls under the jurisdiction of the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process for property transactions in Perungudi. It serves as a benchmark for determining the stamp duty and registration fees that buyers must pay when purchasing property.

When a property is sold, the guideline value is used to calculate the applicable charges, ensuring that both the buyer and seller comply with the legal requirements. This helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Iyappan Ist Street?

The current guideline value of Iyappan Ist Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, and then increased to Rs 2,500 per sq.ft in 2023. The latest revision in 2024 set the value at Rs 2,800 per sq.ft.

What is the land classification for Iyappan Ist Street?

Iyappan Ist Street is classified as Residential Class III Type - I according to the local land classification guidelines.

Where can I find the Neelankarai Sub Registrar Office?

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 stamp duty calculated for properties in Iyappan Ist Street?

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 the current rate, the total stamp duty would be Rs 1,96,000.