Guideline Value for Islambada

Islambada guideline value

The current guideline value of Islambada, located in Tondaiarpet village under the Royapuram SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Islambada has changed

The guideline value for Islambada has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,200 per sq.ft, and the latest revision in 2024 has further increased it to Rs 1,300 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. The change from 2023 to 2024 reflects an 8% increase. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has increased by 8%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1384 streets under the Royapuram SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Islambada is below this median.

• Inspector Subayarayalu Street: Rs 2,200 per sq.ft (2024)
• Jaganathan Street: Rs 2,200 per sq.ft (2024)
• Idream Mandra: Rs 6,000 per sq.ft (2024)
• Jasvath street: Rs 1,300 per sq.ft (2024)
• Harinarayanapuram Main Street: Rs 1,300 per sq.ft (2024)
• Harinarayanapuram 5th Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Islambada

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would amount to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It's important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Islambada?

The Sub Registrar Office that covers Islambada is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Tondaiarpet. It serves as the basis for calculating the stamp duty and registration fees, which are required to be paid at the time of registration.

When a property is sold, the guideline value is used to determine the official value of the property for taxation purposes. Buyers and sellers should be aware of these values to ensure compliance with local regulations during the transaction process.

Frequently asked questions

What is the current guideline value of Islambada?

The current guideline value of Islambada is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What are the guideline values for other streets in Tondaiarpet?

Other streets in Tondaiarpet have varying guideline values, with rates ranging from Rs 1,300 to Rs 6,000 per sq.ft. Notable streets include Inspector Subayarayalu Street and Jaganathan Street, both at Rs 2,200 per sq.ft.

What are the stamp duty and registration fees for a property in Islambada?

The stamp duty for a property valued at Rs 13,00,000 would be Rs 91,000, and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Where can I find the Sub Registrar Office for Islambada?

The Sub Registrar Office for Islambada is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.