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Guideline Value for SRI IYYAPPA NAGAR (Right Side of 200Feet Road) 7th STREET

₹3300/sq.ft.

The guideline value for Sri Iyyappa Nagar (right Side Of 200feet Road) 7th 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) 7th Street

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SRI IYYAPPA NAGAR (Right Side of 200Feet Road) 7th STREET guideline value

The current guideline value of SRI IYYAPPA NAGAR (Right Side of 200Feet Road) 7th STREET is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Korattur village and falls 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) 7th STREET has changed

The guideline value for SRI IYYAPPA NAGAR (Right Side of 200Feet Road) 7th STREET has seen several revisions over the years. In 2007, the guideline value was Rs 375 per sq.ft. This figure increased significantly to Rs 3,000 per sq.ft in 2012, marking a substantial rise of 700%. However, between 2012 and 2017, the value decreased to Rs 2,010 per sq.ft, reflecting a drop of 33%. The value then rose sharply to Rs 3,000 per sq.ft in 2023, and as of the 2024 revision, it stands at Rs 3,300 per sq.ft, showing a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 780%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO, with guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, placing the 2024 figure for SRI IYYAPPA NAGAR (Right Side of 200Feet Road) 7th STREET above this median.

Stamp duty and registration fee for property in SRI IYYAPPA NAGAR (Right Side of 200Feet Road) 7th STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty, calculated at 7%, would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration would be 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) 7th STREET?

The Sub Registrar Office that covers SRI IYYAPPA NAGAR (Right Side of 200Feet Road) 7th STREET is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the 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 property transactions in Korattur. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

It is essential for buyers and sellers to be aware of the current guideline value in order to ensure compliance with legal requirements and to understand the financial implications of the transaction. The guideline value is updated periodically, reflecting changes in the real estate market.

Frequently asked questions

What is the current guideline value of SRI IYYAPPA NAGAR (Right Side of 200Feet Road) 7th STREET?

The current guideline value of SRI IYYAPPA NAGAR (Right Side of 200Feet Road) 7th 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 from Rs 375 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, which is an overall increase of 780%. The value has seen several revisions, with notable changes occurring in 2012, 2017, and 2023.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations in Korattur?

The Villivakkam Sub Registrar Office handles property registrations in Korattur. It is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the guideline value determined?

The guideline value is determined by the Registration Department and is periodically revised to reflect changes in the real estate market. It serves as a basis for calculating stamp duty and registration fees during property transactions.