Guideline Value for Water Front Land

Water Front Land guideline value

The current guideline value for Water Front Land in Ilupoor village, under the Sriperumpudur SRO, is Rs 300 per sq.ft, effective from 1 July 2024. This land is classified as New House Site Type -III (Approved Lay-Out).

How the guideline value of Water Front Land has changed

Looking at the historical revisions, the guideline value for Water Front Land has seen several changes over the years. The 2007 revision set the value at Rs 200 per sq.ft, which increased to Rs 300 per sq.ft in the 2012 revision. However, in the 2017 revision, the value dropped to Rs 201 per sq.ft, before rising again to Rs 300 per sq.ft in both the 2023 and 2024 revisions, showing no change between these two years.

From 2017 to 2023, there was a significant increase of 49%. The overall change from the 2007 revision to the current 2024 revision reflects a 50% increase, highlighting the fluctuations in the guideline value over time. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Ilupoor

In Ilupoor, there are three streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 110 to Rs 300 per sq.ft. The median value for these streets is Rs 250 per sq.ft, placing the Water Front Land above this median.

• Lakshmi Nagar: Rs 110 per sq.ft (2024)
• Fortune Forms: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Water Front Land

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total costs to Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Water Front Land?

The Water Front Land falls under the jurisdiction of 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 Ilupoor

The guideline value is a crucial factor during the registration of property transactions in Ilupoor. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the established rates rather than arbitrary figures.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property can be registered. This ensures transparency and compliance with local regulations during the transaction process.

Frequently asked questions

What is the current guideline value for Water Front Land in Ilupoor?

The current guideline value for Water Front Land in Ilupoor is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has fluctuated, with significant changes noted from Rs 200 in 2007 to Rs 300 in 2012, then a drop to Rs 201 in 2017, and back to Rs 300 in 2023 and 2024. The overall change from 2007 to 2024 is a 50% increase.

What are the other guideline values in Ilupoor?

In addition to Water Front Land, other streets in Ilupoor have the following guideline values: Lakshmi Nagar at Rs 110 per sq.ft and Fortune Forms at Rs 250 per sq.ft as of 2024.

What fees are associated with buying property in Water Front Land?

When buying property in Water Front Land, the stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 27,000.

Where is the Sub Registrar Office for Water Front Land located?

The Sriperumpudur Sub Registrar Office, which covers Water Front Land, is located at 27, Chetty Street, Sriperumpudur-602 105, in the Chengalpattu registration zone.