Guideline Value for Irular Part 3rd Street

Irular Part 3rd Street guideline value

The current guideline value of Irular Part 3rd Street is Rs 1,100 per sq.ft. This street is located in Peerklankaranai village, under the Tambaram Joint 1 SRO, classified as Residential Class II Type - I.

How the guideline value of Irular Part 3rd Street has changed

The guideline value for Irular Part 3rd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,000 per sq.ft, and the most recent revision in 2024 raised it to Rs 1,100 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 reflects a 10% increase, indicating a gradual adjustment in the guideline value.

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 value for these streets is Rs 1,650 per sq.ft, placing Irular Part 3rd Street's value below this median.

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

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the 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, totaling Rs 99,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Irular Part 3rd Street?

The Sub Registrar Office that covers Irular Part 3rd 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 plays a crucial role in the registration process when buying or selling property in Peerklankaranai. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on a standardized value.

When registering a property, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Irular Part 3rd Street?

The current guideline value of Irular Part 3rd 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 finally to Rs 1,100 per sq.ft in 2024.

What is the median guideline value in Peerklankaranai?

The median guideline value in Peerklankaranai is Rs 1,650 per sq.ft, while the value for Irular Part 3rd Street is below this median.

What are the stamp duty rates for property transactions?

The stamp duty rate for property transactions is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Irular Part 3rd Street?

The Sub Registrar Office for Irular Part 3rd Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.