Guideline Value for Irumbuiur North Street

Irumbuiur North Street guideline value

The current guideline value of Irumbuiur North Street, located in Irumpuliyur village, is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - I.

How the guideline value of Irumbuiur North Street has changed

The guideline value for Irumbuiur North Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in 2017, marking a decline of 33%. However, the subsequent revisions saw a significant increase, with the 2023 revision raising the value to Rs 1,500 per sq.ft, and the latest 2024 revision bringing it to Rs 1,650 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Irumpuliyur

In Irumpuliyur, there are 218 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, indicating that the guideline value for Irumbuiur North Street is below this median.

• Indira Nagar: Rs 1,100 per sq.ft (2024)
• Jayarama Nagar: Rs 1,100 per sq.ft (2024)
• Jebastiyapuram Anthoniyar Street: Rs 2,200 per sq.ft (2024)
• Jerusalam NagarExt: Rs 2,200 per sq.ft (2024)
• Jerusalem Nagar: Rs 2,530 per sq.ft (2024)
• Jerusalem Nagar 4th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Irumbuiur North Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total cost for these fees Rs 1,48,500. 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 Irumbuiur North Street?

The Sub Registrar Office that covers Irumbuiur North 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 Irumpuliyur

The guideline value is a crucial factor when buying or selling property in Irumpuliyur. It serves as a benchmark for determining the value of properties during registration, ensuring that transactions reflect current market conditions as assessed by the Registration Department.

When a property is registered, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. This ensures transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Irumbuiur North Street?

The current guideline value of Irumbuiur North Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, before increasing to Rs 1,500 per sq.ft in 2023 and Rs 1,650 per sq.ft in 2024.

What is the land classification for Irumbuiur North Street?

Irumbuiur North Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty rates for properties in Irumbuiur North Street?

The stamp duty for properties in Irumbuiur North Street is charged at 7% of the guideline value or the sale price, whichever is higher, along with a registration fee of 2%.

Where can I find the Sub Registrar Office for Irumbuiur North Street?

The Sub Registrar Office for Irumbuiur North Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.