Guideline Value for Issai Estate

Issai Estate guideline value

The current guideline value of Issai Estate is Rs 250 per sq.ft, effective from 1 July 2024. This property is located in Umaiyal Parancheri village, under the Sunguvarchattram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Issai Estate has changed

The guideline value for Issai Estate has seen several revisions over the years. The 2012 revision set the value at Rs 250 per sq.ft. This remained unchanged in the 2017 revision, which also recorded a value of Rs 250 per sq.ft. However, from 2017 to 2023, the value increased by 50% to Rs 250 per sq.ft. The current revision in 2024 again holds the value at Rs 250 per sq.ft, reflecting a 0% change from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

Overall, from the 2012 revision to the 2024 revision, the guideline value has remained unchanged at Rs 250 per sq.ft. The fluctuations in the earlier years indicate a dynamic valuation process, with significant changes noted between 2012 and 2017, where the value decreased by 33% to Rs 167 per sq.ft before rising again.

Guideline values in Umaiyal Parancheri

In Umaiyal Parancheri, there are 18 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 175 to Rs 500 per sq.ft, with a median value of Rs 200 per sq.ft. The guideline value of Issai Estate is above this median.

• Kanniamman Kovil Street: Rs 175 per sq.ft (2024)
• Erikkarai Street: Rs 175 per sq.ft (2024)
• L.K.S Garden: Rs 200 per sq.ft (2024)
• Mariamman Kovil Street( Kulakkarai Street): Rs 175 per sq.ft (2024)
• Bharathidhasan Nagar: Rs 250 per sq.ft (2024)
• M.R.Rajamani Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Issai Estate

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty is charged at 7%, which amounts to Rs 17,500, and the registration fee is charged at 2%, totaling Rs 5,000. Therefore, the total cost for stamp duty and registration fees would be Rs 22,500. Duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Issai Estate?

The Sub Registrar Office that covers Issai Estate is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Umaiyal Parancheri. It serves as a benchmark for determining the minimum value of a property during registration. Buyers and sellers must consider this value to ensure compliance with local regulations and to avoid any legal complications.

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

Frequently asked questions

What is the current guideline value of Issai Estate?

The current guideline value of Issai Estate is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen revisions from Rs 250 per sq.ft in 2012, remaining the same in 2017, increasing to Rs 250 per sq.ft in 2023, and again holding at Rs 250 per sq.ft in 2024. The most significant change occurred between 2012 and 2017, where it decreased to Rs 167 per sq.ft.

What are the guideline values of other streets in Umaiyal Parancheri?

Other streets in Umaiyal Parancheri have varying guideline values, ranging from Rs 175 to Rs 500 per sq.ft. The median value for these streets is Rs 200 per sq.ft, while Issai Estate's value is above this median.

What are the stamp duty and registration fees for Issai Estate?

For a 1,000 sq.ft plot at the guideline value of Rs 250 per sq.ft, the total guideline value is Rs 2,50,000. The stamp duty is Rs 17,500 and the registration fee is Rs 5,000, totaling Rs 22,500.

Which Sub Registrar Office covers Issai Estate?

The Sunguvarchattram Sub Registrar Office covers Issai Estate, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.