Guideline Value for Plot Street

Plot Street guideline value

The current guideline value of Plot Street in Irunkattukottai village is Rs 400 per sq.ft, as per the 2024 revision effective from 1 July 2024. This street falls under the Sriperumpudur SRO and is classified as Residential Class III Type - I.

How the guideline value of Plot Street has changed

The guideline value for Plot Street has seen several revisions over the years. The 2012 revision set the value at Rs 400 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 400 per sq.ft. The 2017 revision marked a significant change, reducing the value from Rs 400 to Rs 268 per sq.ft, a decrease of 33%. However, from 2017 to 2023, there was a notable increase of 49%, bringing it back to Rs 400 per sq.ft.

The most recent revision in 2024 has maintained the guideline value at Rs 400 per sq.ft, reflecting no change from the previous year. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Irunkattukottai

In Irunkattukottai, there are 56 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 250 to Rs 1,250 per sq.ft, with the median value set at Rs 400 per sq.ft. Plot Street's guideline value aligns perfectly with this median.

• Prasanthi Nagar: Rs 800 per sq.ft (2024)
• Periyar Street: Rs 600 per sq.ft (2024)
• Rajaji Street: Rs 400 per sq.ft (2024)
• Rajalaxmi Nagar: Rs 400 per sq.ft (2024)
• Rajiv Gandhi Street: Rs 400 per sq.ft (2024)
• N.H.Salai: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Plot Street

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total cost for these fees to Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Plot Street?

The Sub Registrar Office that covers Plot Street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Irunkattukottai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is referenced to calculate the applicable fees. Buyers should be aware that the final cost may include additional charges based on the guideline value, which is essential for a smooth transaction process.

Frequently asked questions

What is the current guideline value of Plot Street?

The current guideline value of Plot Street is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Plot Street has remained at Rs 400 per sq.ft since 2012, with a decrease to Rs 268 per sq.ft in 2017, followed by an increase back to Rs 400 per sq.ft in 2023.

What is the land classification of Plot Street?

Plot Street is classified as Residential Class III Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for a property on Plot Street?

For a property valued at Rs 4,00,000, the stamp duty would be Rs 28,000 and the registration fee would be Rs 8,000, totaling Rs 36,000.

Which office handles the registration for Plot Street?

The registration for Plot Street is handled by the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.