Guideline Value for Iyveliagaram Street

Iyveliagaram Street guideline value

The current guideline value of Iyveliagaram Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Thiruvallur village, under the Tiruvallur Joint 1 SRO, and is classified as Residential Class I Type - III.

How the guideline value of Iyveliagaram Street has changed

The guideline value for Iyveliagaram Street has experienced several revisions over the years. The earliest recorded revision was in 2007, with a guideline value of Rs 320 per sq.ft. This figure increased significantly to Rs 1,000 per sq.ft in 2012, marking a 213% rise. However, it then decreased to Rs 670 per sq.ft in 2017, a drop of 33%. The value increased again to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,100 per sq.ft as of the 2024 revision, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 244%.

Guideline values in Thiruvallur

In Thiruvallur, there are 172 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 3,850 per sq.ft. The median guideline value is Rs 1,100 per sq.ft, which is equal to the current value of Iyveliagaram Street.

• Iyveliagram Colony: Rs 880 per sq.ft (2024)
• Iyyanar Avenue: Rs 1,650 per sq.ft (2024)
• Jagajeevamram Street: Rs 2,200 per sq.ft (2024)
• IOB Colony: Rs 2,200 per sq.ft (2024)
• Inkarlal Street: Rs 1,100 per sq.ft (2024)
• Indira Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Iyveliagaram 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 be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total cost to Rs 99,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Iyveliagaram Street?

The Sub Registrar Office that covers Iyveliagaram Street is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Thiruvallur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives the appropriate stamp duty and registration fees.

When a property is sold, the sale price must meet or exceed the guideline value to avoid underreporting. This ensures transparency in real estate transactions and helps maintain a fair assessment of property values within the region.

Frequently asked questions

What is the current guideline value of Iyveliagaram Street?

The current guideline value of Iyveliagaram 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 significantly from Rs 320 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, marking an overall increase of 244% over the years.

What are the stamp duty and registration fees for property in Iyveliagaram 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.

Which office handles the registration for Iyveliagaram Street?

The Tiruvallur Joint 1 Sub Registrar Office handles the registration for Iyveliagaram Street, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.

What is the land classification for Iyveliagaram Street?

Iyveliagaram Street is classified as Residential Class I Type - III, which indicates its suitability for residential development.