Guideline Value for MAIN ROAD

Main Road guideline value

The current guideline value of Main Road in Iyaampettai village is Rs 550 per sq.ft, effective from 1 July 2024. This property falls under the Walajabad Sub Registrar Office and is classified as Residential Class I Type - I.

How the guideline value of Main Road has changed

The guideline value for Main Road has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 100 per sq.ft. This figure increased significantly to Rs 500 per sq.ft in the 2012 revision, marking a 400% rise. However, the 2017 revision saw a decrease to Rs 335 per sq.ft, which was a 33% drop. The value then rose to Rs 500 per sq.ft in the 2023 revision, and finally, it reached Rs 550 per sq.ft with the 2024 revision, reflecting a 10% increase from the previous year. Notably, the register has no figure for this street in 2002 and 2003.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 450%. The 2023 to 2024 change shows a consistent upward trend, with a 10% increase, while the 2017 to 2023 period experienced a significant 49% increase.

Guideline values in Iyaampettai

In Iyaampettai, there are 12 streets under the Walajabad SRO that carry a 2024 guideline value ranging from Rs 275 to Rs 660 per sq.ft, with the median being Rs 550 per sq.ft. The guideline value for Main Road aligns with this median at Rs 550 per sq.ft.

• Male Street: Rs 550 per sq.ft (2024)
• Melmadaveethi: Rs 550 per sq.ft (2024)
• Kezh Street: Rs 550 per sq.ft (2024)
• Nadu Street: Rs 550 per sq.ft (2024)
• Kanthappar Street: Rs 550 per sq.ft (2024)
• Kanthapar Nagar: Rs 275 per sq.ft (2024)

Stamp duty and registration fee for property in Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total fees to Rs 49,500. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Main Road?

The Sub Registrar Office that covers Main Road is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Iyaampettai. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value is referenced to calculate the applicable fees, ensuring that both parties are aware of the financial implications of the transaction. This helps maintain transparency and legality in property dealings.

Frequently asked questions

What is the current guideline value of Main Road in Iyaampettai?

The current guideline value of Main Road in Iyaampettai is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Main Road has changed from Rs 100 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, reflecting an overall increase of 450% over the years.

What are the stamp duty and registration fees for property in Main Road?

For a 1,000 sq.ft plot, the total guideline value is Rs 5,50,000. The stamp duty is Rs 38,500, and the registration fee is Rs 11,000, totaling Rs 49,500.

Which Sub Registrar Office covers Iyaampettai?

The Walajabad Sub Registrar Office covers Iyaampettai, located on Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

How is the guideline value determined for properties in Iyaampettai?

The guideline value is determined by the Registration Department and is based on various factors, including land classification and prevailing market conditions. It is revised periodically to reflect changes in the real estate landscape.