Guideline Value for North Street

North Street guideline value

The current guideline value of North Street in Irumpuliyur village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Special Type - II.

How the guideline value of North Street has changed

The guideline value for North Street has undergone several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back up to Rs 2,000 per sq.ft in 2023. The most recent revision in 2024 saw an increase of 10%, resulting in the current guideline value of Rs 2,200 per sq.ft.

There are no recorded figures for North Street in the revisions from the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Irumpuliyur

In Irumpuliyur, there are 218 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 6,600 per sq.ft. The median value among these streets is Rs 2,200 per sq.ft, which is equal to the current guideline value of North Street.

• N.K.Lane: Rs 1,650 per sq.ft (2024)
• Nithiyanandam Nagar Main Road: Rs 2,530 per sq.ft (2024)
• Nithiyanandam Nagar 4-th St: Rs 2,530 per sq.ft (2024)
• Nithiyanandam Nagar 3-rd St: Rs 2,530 per sq.ft (2024)
• Nithiyanandam Nagar 2-nd St: Rs 2,530 per sq.ft (2024)
• Nithiyanandam Nagar 1-st St: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in North Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty, charged at 7%, would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. 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 North Street?

The North Street is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Irumpuliyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of North Street?

The current guideline value of North Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What are the other streets in Irumpuliyur with their guideline values?

Other streets in Irumpuliyur include N.K.Lane at Rs 1,650 per sq.ft, and several streets in Nithiyanandam Nagar, all valued at Rs 2,530 per sq.ft.

What is the registration fee for property in North Street?

The registration fee for property in North Street is calculated based on the guideline value. For a property valued at Rs 22,00,000, the registration fee would be Rs 44,000.

Where can I find the Sub Registrar Office for North Street?

The Sub Registrar Office covering North Street is the Tambaram Joint 1 SRO, located at No.26, Mes Road, East Tambaram, Chennai-600059.