Guideline Value for Irular Colony

Irular Colony guideline value

The current guideline value of Irular Colony, located in Thirumanikuppam village under the Sunguvarchattram SRO, is Rs 130 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Irular Colony has changed

Over the years, the guideline value of Irular Colony has seen several revisions. The 2012 revision set the value at Rs 125 per sq.ft, which was then reduced to Rs 84 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 50%, bringing it to Rs 126 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 130 per sq.ft, reflecting a 3% rise from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has seen a slight increase of 4%.

Guideline values in Thirumanikuppam

In Thirumanikuppam, there are 15 streets under the Sunguvarchattram SRO with a 2024 guideline value ranging from Rs 130 to Rs 200 per sq.ft. The median value for these streets is Rs 181 per sq.ft, indicating that the 2024 figure for Irular Colony is below this median.

• Kannikapuram: Rs 130 per sq.ft (2024)
• K K Nagar: Rs 200 per sq.ft (2024)
• Chinna Street: Rs 130 per sq.ft (2024)
• Mariamman Kovil Street: Rs 130 per sq.ft (2024)
• Perumal Kovil Street: Rs 181 per sq.ft (2024)
• Ponniamman Kovil Street: Rs 155 per sq.ft (2024)

Stamp duty and registration fee for property in Irular Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 130 per sq.ft, the total guideline value amounts to Rs 1,30,000. The stamp duty, charged at 7%, would be Rs 9,100, and the registration fee at 2% would be Rs 2,600, resulting in a total of Rs 11,700. 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 Irular Colony?

The Sub Registrar Office that covers Irular Colony is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during property registration in Thirumanikuppam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction process.

Additionally, the guideline value impacts the calculation of stamp duty and registration fees, which are essential costs associated with property transactions. Understanding the guideline value helps in budgeting for these expenses effectively.

Frequently asked questions

What is the current guideline value of Irular Colony?

The current guideline value of Irular Colony is Rs 130 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 125 per sq.ft in 2012 to Rs 84 per sq.ft in 2017, then to Rs 126 per sq.ft in 2023, and finally to Rs 130 per sq.ft in 2024.

What are the other streets in Thirumanikuppam with their guideline values?

Other streets in Thirumanikuppam include Kannikapuram, K K Nagar, Chinna Street, Mariamman Kovil Street, Perumal Kovil Street, and Ponniamman Kovil Street, with values ranging from Rs 130 to Rs 200 per sq.ft in 2024.

What is the stamp duty rate for properties in Irular Colony?

The stamp duty rate for properties in Irular Colony is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Irular Colony?

The Sub Registrar Office for Irular Colony is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find more information by visiting the relevant link.