Guideline Value for Ideal Forms

Ideal Forms guideline value

The current guideline value of Ideal Forms in Kolathur village is Rs 200 per sq.ft, effective from 1 July 2024. This property falls under the jurisdiction of the Sriperumpudur SRO and is classified as Residential Class II Type - I.

How the guideline value of Ideal Forms has changed

The guideline value for Ideal Forms has seen several revisions over the years. The earliest recorded figure is Rs 200 per sq.ft in 2012, which remained unchanged in the subsequent revision in 2023. However, the 2017 revision saw a decrease to Rs 134 per sq.ft, marking a decline of 33% from the 2012 figure. The most recent revision in 2024 has returned the value to Rs 200 per sq.ft, reflecting no change from the previous year.

Between the 2017 and 2023 revisions, there was a significant increase of 49%, bringing the value back to Rs 200 per sq.ft. Overall, from 2012 to 2024, the guideline value has remained stable, with no net change.

Guideline values in Kolathur

In Kolathur, there are 45 streets under the Sriperumpudur SRO that have a 2024 guideline value ranging from Rs 100 to Rs 1,300 per sq.ft. The median value for these streets is Rs 250 per sq.ft, placing Ideal Forms below this median.

• Guberan Garden: Rs 300 per sq.ft (2024)
• G.E.C Nagar: Rs 150 per sq.ft (2024)
• Gandhi Nagar: Rs 300 per sq.ft (2024)
• Kamaraj Nagar: Rs 300 per sq.ft (2024)
• David Nagar: Rs 150 per sq.ft (2024)
• Lakshmi Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Ideal Forms

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total to Rs 18,000. 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 Ideal Forms?

The Ideal Forms property is covered by the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Kolathur, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring compliance with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall cost of the transaction. Accurate knowledge of the guideline value helps in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of Ideal Forms?

The current guideline value of Ideal Forms is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained stable at Rs 200 per sq.ft since 2012, with a decrease to Rs 134 per sq.ft in 2017 and a return to Rs 200 per sq.ft in 2024.

What is the land classification for Ideal Forms?

Ideal Forms is classified as Residential Class II Type - I under the local land classification system.

What are the stamp duty and registration fees for property in Ideal Forms?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 18,000.

Which Sub Registrar Office covers Ideal Forms?

The Sriperumpudur Sub Registrar Office covers Ideal Forms, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.