Guideline Value for Iyappan Koil Street

Iyappan Koil Street guideline value

The current guideline value of Iyappan Koil Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Kilkattalai village, under the Pallavaram SRO, and is classified as Residential Special Type - I.

How the guideline value of Iyappan Koil Street has changed

The guideline value for Iyappan Koil Street has undergone several revisions over the years. The earliest recorded figure is from 2003, at Rs 260 per sq.ft. This increased significantly to Rs 500 per sq.ft in 2007, marking a 92% rise. In 2012, the value was Rs 2,500 per sq.ft, reflecting a substantial increase of 400% from the previous revision. However, it then decreased to Rs 1,675 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 2,500 per sq.ft in 2023, before reaching the current figure of Rs 2,750 per sq.ft in 2024, which is a 10% increase from the previous year. The register has no figure for the year 2002 for this street.

Guideline values in Kilkattalai

Kilkattalai village has a total of 194 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median guideline value in the village is Rs 2,530 per sq.ft, and Iyappan Koil Street's 2024 figure of Rs 2,750 per sq.ft is above this median.

• Iyappa Nagar: Rs 2,750 per sq.ft (2024)
• Jayalakshmi Nagar: Rs 2,160 per sq.ft (2024)
• Indian Colony (Sai Street): Rs 2,200 per sq.ft (2024)
• Indian Colony: Rs 2,200 per sq.ft (2024)
• Jeya Nagar: Rs 2,200 per sq.ft (2024)
• Guruvayurappan Nagar: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Iyappan Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that the 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 Iyappan Koil Street?

The Sub Registrar Office that covers Iyappan Koil Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Kilkattalai, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees that need to be paid at the time of registration.

It is essential for buyers and sellers to be aware of the guideline value to ensure compliance with legal requirements during the registration process. The guideline value reflects the official valuation set by the government and serves as a benchmark for property transactions in the area.

Frequently asked questions

What is the current guideline value of Iyappan Koil Street?

The current guideline value of Iyappan Koil Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 260 per sq.ft in 2003 to Rs 2,750 per sq.ft in 2024, which is an overall increase of 958% over the years.

What is the land classification for Iyappan Koil Street?

Iyappan Koil Street is classified as Residential Special Type - I, indicating its intended use for residential purposes.

Where can I find the Sub Registrar Office for Iyappan Koil Street?

The Sub Registrar Office for Iyappan Koil Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

What are the stamp duty and registration fees for property in Iyappan Koil Street?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is charged at 2%. For a property valued at Rs 27,50,000, the total fees would amount to Rs 2,47,500.