Guideline Value for Itharpattarai Street

Itharpattarai Street guideline value

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

How the guideline value of Itharpattarai Street has changed

In the 2012 revision, the guideline value was Rs 1,000 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 670 per sq.ft. Following this, the value increased to Rs 1,000 per sq.ft in 2012, and then rose significantly to Rs 1,000 per sq.ft in 2023. The latest revision in 2024 has further increased the guideline value to Rs 1,100 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the current 2024 figure, there has been a 10% increase. The revisions for the years 2002, 2003, and 2007 do not have any figures listed for this street in the register.

Guideline values in 2nd Division

In the 2nd Division, there are 101 streets under the Kanchipuram Joint IV SRO, with guideline values ranging from Rs 800 to Rs 11,000 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, indicating that the guideline value for Itharpattarai Street is below this median.

• Ithar 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 Itharpattarai Street

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that the 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 accurate calculations based on your specific property details.

Which Sub Registrar Office covers Itharpattarai Street?

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

For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in the 2nd Division. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair price.

During the registration process, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers and sellers must consider this value to ensure compliance with local regulations and to avoid any potential legal issues during the transaction.

Frequently asked questions

What is the current guideline value of Itharpattarai Street?

The current guideline value of Itharpattarai 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 as follows: Rs 1,000 per sq.ft in 2012, decreased to Rs 670 per sq.ft in 2017, then rose to Rs 1,000 per sq.ft in 2023, and finally increased to Rs 1,100 per sq.ft in 2024.

What is the land classification for Itharpattarai Street?

Itharpattarai Street is classified as Residential Class II Type - II.

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

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 11,00,000, the total fees would amount to Rs 99,000.

Which office handles the registration for Itharpattarai Street?

The Kanchipuram Joint IV Sub Registrar Office handles the registration for Itharpattarai Street, located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone.