Guideline Value for Iluppai Thopu

Iluppai Thopu guideline value

The current guideline value of Iluppai Thopu, located in Satthankadu village under the Thiruvottiyur SRO, is Rs 3,400 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - III.

How the guideline value of Iluppai Thopu has changed

The guideline value for Iluppai Thopu has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 600 per sq.ft. It increased significantly to Rs 3,100 per sq.ft in 2012, marking a rise of 417%. However, it then decreased to Rs 2,077 per sq.ft in 2017, reflecting a decline of 33%. The value rose again to Rs 3,100 per sq.ft in 2023, and most recently, it has increased to Rs 3,400 per sq.ft in the 2024 revision, which is a 10% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

From the 2017 revision to 2023, the guideline value increased by 49%. The overall increase from the 2007 revision to the current 2024 value is 467%. These changes highlight the fluctuations in the guideline value over the years.

Guideline values in Satthankadu

In Satthankadu, there are 71 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median value for these streets is Rs 3,400 per sq.ft, which aligns with the guideline value of Iluppai Thopu.

• Indira Gandhi Nagar: Rs 3,400 per sq.ft (2024)
• Jagannatha Gramani Thottam: Rs 3,400 per sq.ft (2024)
• Janagiammal Estate: Rs 3,400 per sq.ft (2024)
• Jandravar Street: Rs 2,800 per sq.ft (2024)
• GirijaNagar: Rs 3,400 per sq.ft (2024)
• Ganthi Nagar Link Road: Rs 3,400 per sq.ft (2024)

Stamp duty and registration fee for property in Iluppai Thopu

For a 1,000 sq.ft plot at the current guideline value of Rs 3,400 per sq.ft, the total guideline value would be Rs 34,00,000. The stamp duty at 7% would be Rs 2,38,000, and the registration fee at 2% would be Rs 68,000, totaling Rs 3,06,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Iluppai Thopu?

The Iluppai Thopu area is covered by the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Satthankadu. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Iluppai Thopu?

The current guideline value of Iluppai Thopu is Rs 3,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, with the most recent increase from Rs 3,100 per sq.ft in 2023 to Rs 3,400 per sq.ft in 2024. Overall, it has increased by 467% from Rs 600 per sq.ft in 2007 to the current value.

What is the land classification for Iluppai Thopu?

The land classification for Iluppai Thopu is Residential Special Type - III, which indicates its designated use for residential purposes.

Where is the Thiruvottiyur Sub Registrar Office located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is the stamp duty calculated for properties in Iluppai Thopu?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 34,00,000 would incur a stamp duty of Rs 2,38,000 at 7%.