Guideline Value for ISWARYA FLATS

Iswarya Flats guideline value

The current guideline value of Iswarya Flats is Rs 9,800 per sq.ft, effective from 1 July 2024. This property is located in Villivakkam village, under the Villivakkam SRO, and is classified as Residential Class I Type - III.

How the guideline value of Iswarya Flats has changed

The guideline value for Iswarya Flats has seen several revisions over the years. The earliest recorded revision was in 2002, with a guideline value of Rs 1,346 per sq.ft. This value increased to Rs 1,535 per sq.ft in 2003, marking a change of +14%. In 2007, the value rose significantly to Rs 1,750 per sq.ft, showing an increase of +14% again. The 2012 revision saw a jump to Rs 9,000 per sq.ft, which was a remarkable increase of +414%. However, the value dropped to Rs 6,030 per sq.ft in 2017, a decrease of -33%. The guideline value then increased to Rs 9,000 per sq.ft in 2023, followed by the latest revision in 2024, which set the value at Rs 9,800 per sq.ft, an increase of +9%.

Overall, from 2002 to 2024, the guideline value has increased by +628%. It is important to note that there are no figures available for the revisions in years other than those specified.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 13,200 per sq.ft, with a median value of Rs 4,900 per sq.ft. The guideline value for Iswarya Flats is above this median.

• Imayam Colony: Rs 8,200 per sq.ft (2024)
• I.C.F.ANNEX (Near M.T.H.Road): Rs 5,500 per sq.ft (2024)
• I - Block: Rs 9,800 per sq.ft (2024)
• Jawaharlal Nehru Road (100feet Road): Rs 13,200 per sq.ft (2024)
• High Court (North) Colony 1st & 2nd Street: Rs 4,400 per sq.ft (2024)
• High Court Colony Main Road: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Iswarya Flats

For a 1,000 sq.ft plot at the current guideline value of Rs 9,800 per sq.ft, the total guideline value would be Rs 98,00,000. The stamp duty at 7% would amount to Rs 6,86,000, and the registration fee at 2% would be Rs 1,96,000, bringing the total to Rs 8,82,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Iswarya Flats?

The Sub Registrar Office that covers Iswarya Flats is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Villivakkam. It determines the minimum value at which the property can be registered and affects the stamp duty and registration fees payable.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers must ensure that the sale price is either at or above the guideline value to avoid any legal issues during registration.

Frequently asked questions

What is the current guideline value of Iswarya Flats?

The current guideline value of Iswarya Flats is Rs 9,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,346 per sq.ft in 2002 to Rs 9,800 per sq.ft in 2024, reflecting an overall increase of +628%.

What is the land classification of Iswarya Flats?

Iswarya Flats is classified as Residential Class I Type - III.

What is the registration office for Iswarya Flats?

The registration office for Iswarya Flats is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for Iswarya Flats?

The stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty would be Rs 6,86,000.