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Guideline Value for SRI IYYAPPA NAGAR (Right Side of 200Feet Road) 5th STREET

₹3300/sq.ft.

The guideline value for Sri Iyyappa Nagar (right Side Of 200feet Road) 5th Street in Korattur village (Villivakkam SRO, Chennai zone) is Rs 3300 per sq.ft, effective 1 July 2024. It was Rs 3000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Special Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Korattur

Village

Villivakkam

SRO

Residential Special Type - III
History
Period Guideline Value
From 1-7-2024 ₹3300 /sq.ft.
From 1-4-2023 ₹3000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2010 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹3000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹375 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 ( Near By Nolambur Eb Office )
044-29561092
[email protected]

DRO (District Registrar Office)

No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai - 600 014.
044-28613607
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Sri Iyyappa Nagar (right Side Of 200feet Road) 5th Street

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SRI IYYAPPA NAGAR (Right Side of 200Feet Road) 5th STREET guideline value

The current guideline value of SRI IYYAPPA NAGAR (Right Side of 200Feet Road) 5th STREET is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Korattur village, under the Villivakkam SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of SRI IYYAPPA NAGAR (Right Side of 200Feet Road) 5th STREET has changed

The guideline value of SRI IYYAPPA NAGAR (Right Side of 200Feet Road) 5th STREET has seen multiple revisions over the years. In the 2007 revision, the value was Rs 375 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, this value decreased to Rs 2,010 per sq.ft in the 2017 revision. Following this, the 2023 revision set the value at Rs 3,000 per sq.ft, and the latest 2024 revision raised it to Rs 3,300 per sq.ft. The register has no figures for the years 2002 and 2003.

Between the revisions, there have been notable changes. From 2007 to 2012, there was a substantial increase of +700%. The value then decreased by -33% from 2012 to 2017. After that, there was a significant rise of +49% from 2017 to 2023, and an increase of +10% from 2023 to 2024. Overall, the guideline value has increased by +780% from 2007 to 2024.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO carrying a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft, with a median value of Rs 2,500 per sq.ft. The guideline value for SRI IYYAPPA NAGAR (Right Side of 200Feet Road) 5th STREET is above this median.

Stamp duty and registration fee for property in SRI IYYAPPA NAGAR (Right Side of 200Feet Road) 5th STREET

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers SRI IYYAPPA NAGAR (Right Side of 200Feet Road) 5th STREET?

The Sub Registrar Office that covers SRI IYYAPPA NAGAR (Right Side of 200Feet Road) 5th STREET is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Korattur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements.

When a property is registered, the guideline value is compared to the sale price. The higher of the two is used to calculate the applicable duties and fees. This ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of SRI IYYAPPA NAGAR (Right Side of 200Feet Road) 5th STREET?

The current guideline value of SRI IYYAPPA NAGAR (Right Side of 200Feet Road) 5th STREET is Rs 3,300 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 375 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024. There have been several revisions, with notable changes in 2012, 2017, 2023, and the latest in 2024.

What is the land classification for SRI IYYAPPA NAGAR (Right Side of 200Feet Road) 5th STREET?

The land classification for SRI IYYAPPA NAGAR (Right Side of 200Feet Road) 5th STREET is Residential Special Type - III.

Where is the Sub Registrar Office located for this street?

The Sub Registrar Office covering SRI IYYAPPA NAGAR (Right Side of 200Feet Road) 5th STREET is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near Nolambur Eb Office.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at 7%.