Guideline Value for IYAPPAN STREET

Iyappan Street guideline value

The current guideline value of Iyappan Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Perungudi village under the Neelankarai SRO, classified as Residential Class III Type - I.

How the guideline value of Iyappan Street has changed

Over the years, the guideline value of Iyappan Street has seen significant changes. The register shows that in 2002, the value was Rs 221 per sq.ft. This increased to Rs 250 per sq.ft in 2003, marking a 13% rise. The value continued to grow, reaching Rs 600 per sq.ft in 2007, which represented a substantial increase of 140%. By 2012, the value was Rs 2,500 per sq.ft, reflecting a remarkable 317% increase from the previous revision. However, between 2012 and 2017, the value dropped to Rs 1,675 per sq.ft, a decrease of 33%. The value then increased to Rs 2,500 per sq.ft in 2023, before reaching the current figure of Rs 2,800 per sq.ft in 2024, which is a 12% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1167%. There are no figures available for the revisions in years other than those listed.

Guideline values in Perungudi

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

• Iyappan Ist Street: Rs 2,800 per sq.ft (2024)
• Iyappan Cross Street: Rs 2,200 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000. Together, the total 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.

You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Iyappan Street?

The Sub Registrar Office that covers Iyappan 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 Perungudi

The guideline value plays a crucial role during the registration of property transactions in Perungudi. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers must ensure that they are aware of the current guideline value to accurately calculate these costs.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duty. This ensures that the fees reflect the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Iyappan Street?

The current guideline value of Iyappan 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 221 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, marking an overall increase of 1167%.

What is the land classification of Iyappan Street?

Iyappan Street is classified as Residential Class III Type - I.

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 the stamp duty calculated for properties in Iyappan Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 1,96,000.