Guideline Value for Ibrahim Street

Ibrahim Street guideline value

The current guideline value of Ibrahim Street in Alandur village, under the Alandur SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. The land classification for this street is Residential Class I Type - III.

How the guideline value of Ibrahim Street has changed

The guideline value for Ibrahim Street has undergone several revisions over the years. In 2002, the value was Rs 338 per sq.ft, which increased to Rs 367 per sq.ft in 2003, marking a 9% rise. The value then saw a significant increase to Rs 1,000 per sq.ft in 2007, representing a 172% change. Following this, the value rose dramatically to Rs 4,000 per sq.ft in 2012, showcasing a 300% increase. However, there was a decline to Rs 2,680 per sq.ft in 2017, which was a 33% drop. The value then increased to Rs 4,000 per sq.ft in 2023, and most recently, it rose to Rs 4,400 per sq.ft in 2024, reflecting a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1202%. The register has no figure for the years not mentioned in this summary.

Guideline values in Alandur

In Alandur, there are 40 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 3,900 to Rs 11,000 per sq.ft, with a median value of Rs 5,000 per sq.ft. Ibrahim Street's 2024 figure is below this median.

• Hussain Subedar Street: Rs 4,400 per sq.ft (2024)
• Gurupax Street: Rs 4,400 per sq.ft (2024)
• G.S.T. RoadSOUTH SIDE LAWYER JAGANATHAN STREET: Rs 11,000 per sq.ft (2024)
• G.S.T. Road/mount road: Rs 11,000 per sq.ft (2024)
• Jal Naiken Street: Rs 4,400 per sq.ft (2024)
• Jilani sayabu Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Ibrahim Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, together totaling Rs 3,96,000. It is important to note that the 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 details.

Which Sub Registrar Office covers Ibrahim Street?

The Sub Registrar Office that covers Ibrahim Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Alandur. It serves as a benchmark for determining the minimum value at which property transactions can be registered. Buyers and sellers must be aware of this value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values.

Frequently asked questions

What is the current guideline value of Ibrahim Street?

The current guideline value of Ibrahim Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 338 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, representing an overall increase of 1202% over the years.

What is the land classification for Ibrahim Street?

The land classification for Ibrahim Street is Residential Class I Type - III.

What are the stamp duty and registration fees for a property in Ibrahim Street?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

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

The Sub Registrar Office for Ibrahim Street is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.