Guideline Value for Iswaran Koil Street

Iswaran Koil Street guideline value

The current guideline value of Iswaran Koil Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Neelankarai village, under the Neelankarai SRO, and is classified as Residential Class III Type - I.

How the guideline value of Iswaran Koil Street has changed

The guideline value for Iswaran Koil Street has seen several revisions over the years. In 2002, the value was Rs 80 per sq.ft, which increased to Rs 87 per sq.ft in 2003. Following that, the value rose significantly to Rs 250 per sq.ft in 2007, and then to Rs 1,500 per sq.ft in 2012. However, it decreased to Rs 1,005 per sq.ft in 2017. The value then increased to Rs 1,500 per sq.ft in 2023, and finally reached Rs 1,700 per sq.ft in 2024.

Between the revisions, notable changes include a 9% increase from 2002 to 2003, a substantial 187% increase from 2003 to 2007, and a remarkable 500% increase from 2007 to 2012. The value decreased by 33% from 2012 to 2017, followed by a 49% increase from 2017 to 2023. The latest revision from 2023 to 2024 shows a 13% increase. Overall, from 2002 to 2024, the guideline value has increased by 2025%.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Iswaran Koil Street's 2024 figure below that median.

• Indira Gandhi Street: Rs 1,700 per sq.ft (2024)
• Habiba Street: Rs 1,700 per sq.ft (2024)
• Govind Nagar, Singaravelan Salai 10th Cross Street: Rs 3,300 per sq.ft (2024)
• J.J. Street: Rs 1,700 per sq.ft (2024)
• J.P.Nagar: Rs 1,700 per sq.ft (2024)
• Kabaleeswarar Nagar 1st North Cross Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Iswaran Koil Street

For a 1,000 sq.ft plot at the current rate of Rs 1,700 per sq.ft, the guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating stamp duty and registration fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Iswaran Koil Street?

The Sub Registrar Office that covers Iswaran Koil Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration process of property transactions in Neelankarai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is sold, the guideline value is used to calculate the necessary fees, ensuring that both buyers and sellers are aware of the financial implications involved in the transaction. This helps maintain transparency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Iswaran Koil Street?

The current guideline value of Iswaran Koil Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 80 per sq.ft in 2002 to Rs 1,700 per sq.ft in 2024, showing an overall increase of 2025% over the years.

What is the land classification for Iswaran Koil Street?

Iswaran Koil Street is classified as Residential Class III Type - I, which indicates its designation for residential purposes.

What are the stamp duty and registration fees for properties in Iswaran Koil Street?

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000, and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Where is the Sub Registrar Office for Iswaran Koil Street located?

The Sub Registrar Office for Iswaran Koil Street is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.