Guideline Value for Irular Colony Lane

Irular Colony Lane guideline value

The current guideline value of Irular Colony Lane is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is located in Porur village under the Kunrathur SRO, and it falls under the Residential Special Type - II land classification.

How the guideline value of Irular Colony Lane has changed

The guideline value for Irular Colony Lane has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 3,520 per sq.ft, which is an increase from Rs 3,200 per sq.ft in the 2023 revision, reflecting a change of +10%. Before that, the value was Rs 2,144 per sq.ft in 2017, marking a significant increase of +49% from that year to 2023. The 2012 revision recorded a value of Rs 3,200 per sq.ft, which was a decrease of -33% from the 2017 figure.

It is important to note that the guideline value register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by +10%.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 2,860 to Rs 6,380 per sq.ft, with a median value of Rs 3,960 per sq.ft. The guideline value for Irular Colony Lane is below this median.

• Irular Colony: Rs 3,520 per sq.ft (2024)
• Hospital Road: Rs 3,520 per sq.ft (2024)
• Javahar Nagar Pilliyar Koil Street: Rs 3,960 per sq.ft (2024)
• Jayabharathi nagar 1st Street: Rs 3,520 per sq.ft (2024)
• Jayabharathi nagar 2nd Street: Rs 3,520 per sq.ft (2024)
• Jayabharathi Nagar Main Road: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Irular Colony Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value would be Rs 35,20,000. The stamp duty at 7% would amount to Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total to Rs 3,16,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Irular Colony Lane?

The Irular Colony Lane is covered by the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Porur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When registering a property, the guideline value ensures that the transaction is documented at a fair value, helping to maintain transparency in property dealings. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Irular Colony Lane?

The current guideline value of Irular Colony Lane is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,144 per sq.ft in 2017 to Rs 3,520 per sq.ft in 2024, with various revisions in between, including Rs 3,200 per sq.ft in 2023 and 2012.

What are the other streets in Porur with similar guideline values?

Other streets in Porur with a guideline value of Rs 3,520 per sq.ft include Irular Colony, Hospital Road, Jayabharathi nagar 1st Street, Jayabharathi nagar 2nd Street, and Jayabharathi Nagar Main Road.

How is stamp duty calculated for property in Irular Colony Lane?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 2,46,400.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find more information about it online.