Guideline Value for Ithar Street

Ithar Street guideline value

The current guideline value of Ithar Street, located in the 2nd Division village under the Kanchipuram Joint IV SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - II land classification.

How the guideline value of Ithar Street has changed

In the 2012 revision, the guideline value for Ithar Street was set at Rs 1,000 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased by 33% to Rs 670 per sq.ft. The next revision in 2023 saw a significant increase of 49%, bringing the guideline value up to Rs 1,000 per sq.ft. Finally, the 2024 revision established the current value at Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year.

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

Guideline values in 2nd Division

In the 2nd Division village under the Kanchipuram Joint IV SRO, there are 101 streets that carry a guideline value for 2024, ranging from Rs 800 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, indicating that Ithar Street's current figure is below this median.

• Itharpattarai Street: Rs 1,100 per sq.ft (2024)
• Irumbu Santhu: Rs 5,500 per sq.ft (2024)
• Javulikadai Sathiram (Gandhi Road): Rs 11,000 per sq.ft (2024)
• Hospital Road: Rs 3,300 per sq.ft (2024)
• Jeeyar Narayanapalayam Street: Rs 1,100 per sq.ft (2024)
• Kalvai karai Veeth (Bavaji Street): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ithar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total 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, making the total cost for these fees Rs 99,000. Please note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ithar Street?

The Kanchipuram Joint IV Sub Registrar Office covers Ithar Street. The office is located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, in the Chengalpattu registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in 2nd Division

The guideline value is an essential factor in the registration process when buying or selling property in the 2nd Division. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that transactions are recorded accurately according to government regulations.

When a property is sold, the guideline value helps determine the minimum value at which the property can be registered, impacting the overall cost of the transaction for both buyers and sellers.

Frequently asked questions

What is the current guideline value of Ithar Street?

The current guideline value of Ithar 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 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 2nd Division?

The median guideline value in the 2nd Division village under the Kanchipuram Joint IV SRO is Rs 1,650 per sq.ft, which is higher than the current value of Ithar Street.

What are the registration fees for property in Ithar Street?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Where is the Sub Registrar Office for Ithar Street located?

The Kanchipuram Joint IV Sub Registrar Office is located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone.