Guideline Value for U.V.Swaminathan Iyer Street

U.V.Swaminathan Iyer Street guideline value

The current guideline value of U.V.Swaminathan Iyer Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Irumpuliyur village and falls under the Tambaram Joint 1 SRO, classified as Commercial Class I Type - II.

How the guideline value of U.V.Swaminathan Iyer Street has changed

In the 2012 revision, the guideline value was Rs 3,500 per sq.ft. This figure remained the same in the 2012 and 2017 revisions. However, in 2017, it decreased to Rs 2,345 per sq.ft. From 2017 to 2023, the value increased significantly by 49% to reach Rs 3,500 per sq.ft. The most recent revision in 2024 saw a further increase of 10%, bringing the current value to Rs 3,850 per sq.ft.

It is important to note that the register has no figures for U.V.Swaminathan Iyer Street for 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, with guideline values ranging from Rs 880 to Rs 6,600 per sq.ft. The median value is Rs 2,200 per sq.ft, placing U.V.Swaminathan Iyer Street's 2024 figure above this median.

• Vaigai Street: Rs 2,530 per sq.ft (2024)
• Uma Nagar: Rs 2,200 per sq.ft (2024)
• T.T.K Nagar Extn: Rs 2,200 per sq.ft (2024)
• T.T.K. Nagar 2nd Street: Rs 1,650 per sq.ft (2024)
• T.T.K.Nagar 2-nd Main Road: Rs 2,200 per sq.ft (2024)
• T.T.K. Nagar 2nd Cross Street: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in U.V.Swaminathan Iyer Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, while the registration fee at 2% would be Rs 77,000. Together, the total cost for stamp duty and registration fee would be Rs 3,46,500. 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 detailed calculations.

Which Sub Registrar Office covers U.V.Swaminathan Iyer Street?

The Sub Registrar Office that covers U.V.Swaminathan Iyer Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Irumpuliyur. It acts as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects a fair value in accordance with government regulations.

When buying or selling property, the guideline value influences the amount of stamp duty and registration fees payable. Buyers should be aware that these costs are calculated based on the higher of the guideline value or the sale price, which can significantly impact the overall transaction cost.

Frequently asked questions

What is the current guideline value of U.V.Swaminathan Iyer Street?

The current guideline value of U.V.Swaminathan Iyer Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent increase of 10% from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024. The value also increased by 49% from Rs 2,345 per sq.ft in 2017 to Rs 3,500 per sq.ft in 2023.

What is the land classification for U.V.Swaminathan Iyer Street?

U.V.Swaminathan Iyer Street is classified as Commercial Class I Type - II, which indicates its suitability for commercial activities.

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

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500. These fees are based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for this street?

The Tambaram Joint 1 Sub Registrar Office covers U.V.Swaminathan Iyer Street and is located at No.26, Mes Road, East Tambaram, Chennai-600059. You can find more information by visiting the relevant link.