Guideline Value for ISHWARYAM GARDEN

Ishwaryam Garden guideline value

The current guideline value of Ishwaryam Garden is Rs 2,700 per sq.ft, effective from 1 July 2024. This property is located in Vengaivasal village and falls under the Selaiyur SRO with a land classification of Mixed Type - II.

How the guideline value of Ishwaryam Garden has changed

The guideline value for Ishwaryam Garden has seen several revisions over the years. The earliest recorded revision was in 2012 when the value was Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 2,700 per sq.ft, an increase of 8% from the previous year.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Vengaivasal

In Vengaivasal, there are 117 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft, with the median value being Rs 2,700 per sq.ft. Ishwaryam Garden's 2024 guideline value aligns with this median.

• Indira Nagar Extentsion: Rs 3,700 per sq.ft (2024)
• Indira Nagar: Rs 2,700 per sq.ft (2024)
• Jayalakshmi Nagar: Rs 2,700 per sq.ft (2024)
• J C V Avenue: Rs 2,700 per sq.ft (2024)
• G.V.Nagar: Rs 2,400 per sq.ft (2024)
• Gothandaraman Nagar: Rs 4,000 per sq.ft (2024)

Stamp duty and registration fee for property in Ishwaryam Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, while the registration fee at 2% would be Rs 54,000. Together, the total cost for these fees would be Rs 2,43,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Ishwaryam Garden?

The Sub Registrar Office that covers Ishwaryam Garden is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, within the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vengaivasal. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. The fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

When a buyer approaches the registration office, the guideline value will be referenced to ascertain the applicable fees. This ensures transparency and standardization in property transactions, making it easier for both buyers and sellers to understand their financial obligations.

Frequently asked questions

What is the current guideline value for Ishwaryam Garden?

The current guideline value for Ishwaryam Garden is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the registration office for Ishwaryam Garden?

The registration office for Ishwaryam Garden is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a property valued at Rs 27,00,000 would incur a stamp duty of Rs 1,89,000 and a registration fee of Rs 54,000.

What are the other streets in Vengaivasal with their guideline values?

Other streets in Vengaivasal include Indira Nagar Extension at Rs 3,700 per sq.ft, Indira Nagar at Rs 2,700 per sq.ft, Jayalakshmi Nagar at Rs 2,700 per sq.ft, J C V Avenue at Rs 2,700 per sq.ft, G.V.Nagar at Rs 2,400 per sq.ft, and Gothandaraman Nagar at Rs 4,000 per sq.ft, all for the year 2024.