Guideline Value for Iyyapan Koil Street

Iyyapan Koil Street guideline value

The current guideline value of Iyyapan Koil Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Thirumullaivoyal village under the Ambattur SRO and falls under the Residential Class III Type - I land classification.

How the guideline value of Iyyapan Koil Street has changed

The guideline value for Iyyapan Koil Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which then changed to Rs 1,005 per sq.ft in the 2017 revision, marking a decrease of 33%. Following this, the 2023 revision increased the value to Rs 1,500 per sq.ft, and the latest revision in 2024 has further increased it to Rs 1,600 per sq.ft, reflecting a 7% rise from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007. Overall, the guideline value has increased by 7% from the 2012 revision to the 2024 revision.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 5,500 per sq.ft, with a median value of Rs 2,400 per sq.ft. The guideline value for Iyyapan Koil Street is below this median.

• Jaggarkan nagar: Rs 990 per sq.ft (2024)
• Indira Street (Devi Nagar): Rs 2,400 per sq.ft (2024)
• Indira Nagar 2nd Street 6th Cross Street: Rs 1,500 per sq.ft (2024)
• Indira Nagar 2nd Street 5th Cross Street: Rs 1,500 per sq.ft (2024)
• Indira Nagar 2nd Street 4th Cross Street: Rs 1,500 per sq.ft (2024)
• Indira Nagar 2nd Street 3rd Cross Street: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Iyyapan Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees to Rs 1,44,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Iyyapan Koil Street?

The Sub Registrar Office that covers Iyyapan Koil Street 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 details.

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

The guideline value is a crucial factor in property transactions in Thirumullaivoyal, as it determines the minimum value at which a property can be registered. When buying or selling property, this value is used to calculate the stamp duty and registration fees, ensuring that both parties are aware of the financial obligations involved in the transaction.

During registration, the guideline value serves as a benchmark for the sale price. If the sale price is lower than the guideline value, the higher guideline value will be used to compute the applicable fees, ensuring that the registration process adheres to the established norms set by the Registration Department.

Frequently asked questions

What is the current guideline value of Iyyapan Koil Street?

The current guideline value of Iyyapan Koil Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2012 revision, the guideline value has increased from Rs 1,500 per sq.ft to Rs 1,600 per sq.ft in 2024, with notable changes in between, including a decrease in 2017 and subsequent increases in 2023 and 2024.

What is the stamp duty for properties on Iyyapan Koil Street?

The stamp duty for properties on Iyyapan Koil Street is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would amount to Rs 1,12,000 based on the current guideline value.

Where is the Sub Registrar Office for Iyyapan Koil Street?

The Sub Registrar Office covering Iyyapan Koil Street is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the land classification of Iyyapan Koil Street?

Iyyapan Koil Street is classified as Residential Class III Type - I, indicating its designation for residential purposes within the locality.