Guideline Value for Aishwariyam Nagar Phase-II

Aishwariyam Nagar Phase-II guideline value

The current guideline value of Aishwariyam Nagar Phase-II is Rs 4,000 per sq.ft, effective from 1 July 2024. This area is located in Madambakkam village, under the Selaiyur SRO, and is classified as Mixed Special Type - I.

How the guideline value of Aishwariyam Nagar Phase-II has changed

The guideline value for Aishwariyam Nagar Phase-II has seen several revisions over the years. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 3,735 per sq.ft. This was an increase from the previous value, reflecting a change of +7% to the current 2024 figure of Rs 4,000 per sq.ft.

The 2024 revision shows a significant increase compared to the 2023 revision. The guideline value rose from Rs 3,735 per sq.ft in 2023 to Rs 4,000 per sq.ft in 2024. This change indicates a growing valuation for this locality.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, placing Aishwariyam Nagar Phase-II's 2024 figure above this median.

• Ahbi's Ramani Garden: Rs 3,200 per sq.ft (2024)
• Aiswaryam Nagar: Rs 4,000 per sq.ft (2024)
• Agaram Road: Rs 3,800 per sq.ft (2024)
• Agaram Main Road: Rs 3,800 per sq.ft (2024)
• Adithya Nagar Cross Street: Rs 2,400 per sq.ft (2024)
• Adithya Nagar- Anand Avenue Link Road: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Aishwariyam Nagar Phase-II

For a 1,000 sq.ft plot at the current guideline value of Rs 4,000 per sq.ft, the total guideline value amounts to Rs 40,00,000. The stamp duty at 7% would be Rs 2,80,000, and the registration fee at 2% would be Rs 80,000, making the total cost for these fees Rs 3,60,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Aishwariyam Nagar Phase-II?

The Sub Registrar Office that covers Aishwariyam Nagar Phase-II is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Madambakkam

The guideline value is a crucial factor during the registration of property transactions in Madambakkam. It serves as the basis for calculating the stamp duty and registration fees, which are mandatory costs associated with property transactions.

When buying or selling property, it is essential to understand that the guideline value may differ from the actual sale price. The stamp duty is charged on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Aishwariyam Nagar Phase-II?

The current guideline value of Aishwariyam Nagar Phase-II is Rs 4,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,735 per sq.ft in 2023 to Rs 4,000 per sq.ft in 2024, marking an increase of +7%. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value in Madambakkam?

The median guideline value for streets in Madambakkam is Rs 2,400 per sq.ft. Aishwariyam Nagar Phase-II's 2024 figure is above this median.

What are the stamp duty and registration fees for property in Aishwariyam Nagar Phase-II?

For a property valued at Rs 40,00,000, the stamp duty would be Rs 2,80,000 and the registration fee would be Rs 80,000, totaling Rs 3,60,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Aishwariyam Nagar Phase-II?

The Selaiyur Sub Registrar Office handles registrations for Aishwariyam Nagar Phase-II, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.