Guideline Value for Iyankulam Street (Gandhi Nagar)

Iyankulam Street (Gandhi Nagar) guideline value

The current guideline value of Iyankulam Street (Gandhi Nagar) is Rs 1,800 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village under the Ambattur SRO, and it falls under the Residential Class I Type - II land classification.

How the guideline value of Iyankulam Street (Gandhi Nagar) has changed

The guideline value for Iyankulam Street (Gandhi Nagar) has undergone several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was Rs 1,700 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 1,139 per sq.ft. Following this, the value increased to Rs 1,700 per sq.ft in 2023 and further rose to Rs 1,800 per sq.ft in 2024, marking a 6% increase from the previous year. Overall, from 2012 to 2024, the guideline value has seen a slight increase of 6%.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023, while there was a decrease of 33% from 2012 to 2017. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. Iyankulam Street (Gandhi Nagar) has a guideline value below this median.

• Iyappan Street (Palaniappa Nagar): Rs 2,200 per sq.ft (2024)
• Iyappan Street (Ram Nagar): Rs 2,400 per sq.ft (2024)
• Iyappan Street (Venkateswara Nagar): Rs 1,600 per sq.ft (2024)
• Iyyappan Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Indira Nagar: Rs 1,400 per sq.ft (2024)
• Indira Gandhi Street (V.L.Puram): Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Iyankulam Street (Gandhi Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,800 per sq.ft, the total guideline value would be Rs 18,00,000. The stamp duty at 7% would amount to Rs 1,26,000, and the registration fee at 2% would be Rs 36,000, bringing the total to Rs 1,62,000. 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 details.

Which Sub Registrar Office covers Iyankulam Street (Gandhi Nagar)?

The Sub Registrar Office that covers Iyankulam Street (Gandhi Nagar) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Oragadam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers should be aware that the guideline value is used to calculate these fees, ensuring compliance with local regulations.

When a property is registered, the guideline value helps in establishing a legal record of the transaction. It ensures that the property is valued appropriately for taxation purposes, which is essential for both the buyer and the seller in the transaction.

Frequently asked questions

What is the current guideline value of Iyankulam Street (Gandhi Nagar)?

The current guideline value of Iyankulam Street (Gandhi Nagar) is Rs 1,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,700 per sq.ft in 2012 to Rs 1,139 per sq.ft in 2017, then increased to Rs 1,700 per sq.ft in 2023, and finally to Rs 1,800 per sq.ft in 2024.

What is the land classification of Iyankulam Street (Gandhi Nagar)?

Iyankulam Street (Gandhi Nagar) is classified as Residential Class I Type - II.

Which Sub Registrar Office covers this street?

The Ambattur Sub Registrar Office covers Iyankulam Street (Gandhi Nagar), located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It serves as a benchmark for determining the legal value of the property for taxation purposes.