Guideline Value for Irular Part 1st Street

Irular Part 1st Street guideline value

The current guideline value of Irular Part 1st Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Peerklankaranai village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Irular Part 1st Street has changed

The guideline value for Irular Part 1st Street has seen several revisions over the years. In 2012, the value was set at Rs 1,000 per sq.ft, which then decreased to Rs 670 per sq.ft in 2017. Following this, the value increased to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,100 per sq.ft as of the 2024 revision. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased significantly by 49%. The transition from 2023 to 2024 shows a 10% increase in the guideline value, leading to an overall increase of 10% from 2012 to 2024.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 880 to Rs 4,400 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Irular Part 1st Street's value below that median.

• Irular Part 2nd Street: Rs 1,100 per sq.ft (2024)
• Irular Part 3rd Street: Rs 1,100 per sq.ft (2024)
• Irular Side Devanesan Nagar 2nd Cross Street: Rs 1,100 per sq.ft (2024)
• Irular Side Devanesan nagar 2nd Main Road: Rs 1,100 per sq.ft (2024)
• Irular Side Devanesan Nagar 3rd Cross Street: Rs 1,100 per sq.ft (2024)
• Indhira Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Irular Part 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total fees Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more accurate estimates based on your specific property details.

Which Sub Registrar Office covers Irular Part 1st Street?

The Sub Registrar Office that covers Irular Part 1st Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, MES Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Peerklankaranai. It serves as the minimum value for property transactions and is used to calculate the stamp duty and registration fees during the registration process.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to determine the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Irular Part 1st Street?

The current guideline value of Irular Part 1st Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023, and is currently Rs 1,100 per sq.ft in 2024.

What is the land classification for Irular Part 1st Street?

Irular Part 1st Street is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for property in this area?

For a 1,000 sq.ft plot, the total guideline value is Rs 11,00,000. The stamp duty would be Rs 77,000, and the registration fee would be Rs 22,000, totaling Rs 99,000.

Where is the Sub Registrar Office for Irular Part 1st Street located?

The Sub Registrar Office for Irular Part 1st Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, MES Road, East Tambaram, Chennai-600059.