Guideline Value for IYEMPERUMAL STREET

Iyemperumal Street guideline value

The current guideline value of Iyemperumal Street is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class III Type - III.

How the guideline value of Iyemperumal Street has changed

Over the years, the guideline value of Iyemperumal Street has seen significant changes. In 2002, the guideline value was Rs 829 per sq.ft. This increased to Rs 921 per sq.ft in 2003, marking an increase of 11%. The value further rose to Rs 1,540 per sq.ft in 2007, which was a 67% increase. Following this, the guideline value jumped to Rs 8,000 per sq.ft in 2012, reflecting a substantial increase of 419%. However, it then decreased to Rs 5,360 per sq.ft in 2017, a decline of 33%. The guideline value saw a notable rise again, reaching Rs 8,000 per sq.ft in 2023, and finally, it increased to Rs 8,800 per sq.ft in 2024, which is a 10% increase.

From 2017 to 2023, the value increased by 49%. Overall, from 2002 to 2024, the guideline value has increased by 962%. There are no figures available for the revisions in years not listed.

Guideline values in Mylapore

Mylapore village has a total of 883 streets under the Mylapore SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value is Rs 8,800 per sq.ft, which is equal to the current figure for Iyemperumal Street.

• Jagadambal Colony 1st Street: Rs 8,800 per sq.ft (2024)
• Jagadambal Colony 2nd Street: Rs 8,800 per sq.ft (2024)
• Irusappa Kiramani Street: Rs 8,800 per sq.ft (2024)
• Irudhayapuram (Dooming Kuppam): Rs 3,300 per sq.ft (2024)
• Indirani Ammal Street: Rs 8,800 per sq.ft (2024)
• Janaki Avenue (Abiramapuram): Rs 15,900 per sq.ft (2024)

Stamp duty and registration fee for property in Iyemperumal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value would be Rs 88,00,000. The stamp duty at 7% would amount to Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000. Together, these fees total Rs 7,92,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Iyemperumal Street?

The Sub Registrar Office covering Iyemperumal Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property, ensuring that the fees are calculated based on a standardized value.

When buying or selling property, the guideline value helps in establishing a fair transaction process. It is essential for both buyers and sellers to be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Iyemperumal Street?

The current guideline value of Iyemperumal Street is Rs 8,800 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 829 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, reflecting an overall increase of 962% over the years.

What is the land classification for Iyemperumal Street?

Iyemperumal Street is classified as Residential Class III Type - III.

Where can I find the Sub Registrar Office for Iyemperumal Street?

The Sub Registrar Office for Iyemperumal Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

How are stamp duty and registration fees calculated for properties in Mylapore?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 88,00,000, the total fees would amount to Rs 7,92,000.