Guideline Value for ISWARYA GARDEN

Iswarya Garden guideline value

The current guideline value of Iswarya Garden in Arasankalani village under the Selaiyur SRO is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Iswarya Garden has changed

The guideline value for Iswarya Garden has seen several revisions over the years. The earliest recorded value was Rs 1,500 per sq.ft in 2012. This figure decreased to Rs 1,005 per sq.ft in 2017, marking a decline of 33%. However, the value rose significantly to Rs 1,500 per sq.ft in 2023, and then increased again to Rs 1,650 per sq.ft in 2024, representing a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has risen by 10%. The register has no figures for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Arasankalani

In Arasankalani, there are 85 streets under the Selaiyur SRO, with 2024 guideline values ranging from Rs 1,300 to Rs 4,750 per sq.ft. The median value for these streets is Rs 2,100 per sq.ft, placing Iswarya Garden's 2024 figure below this median.

• Jansirani Street: Rs 1,300 per sq.ft (2024)
• Jeeva Avenue: Rs 4,100 per sq.ft (2024)
• Jeevanandam Street: Rs 1,300 per sq.ft (2024)
• Kakkan Street: Rs 1,300 per sq.ft (2024)
• Kamarajar Street: Rs 2,100 per sq.ft (2024)
• Gengai Amman Koil Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Iswarya Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that 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 Iswarya Garden?

The Sub Registrar Office that covers Iswarya 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, 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 Arasankalani

The guideline value plays a crucial role during property transactions in Arasankalani. It is used to determine the stamp duty and registration fees that are applicable when a property is bought or sold. This ensures that the government receives the appropriate revenue based on the established values for properties in the area.

When registering a property, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This means that if the sale price exceeds the guideline value, the stamp duty will be calculated on the sale price instead.

Frequently asked questions

What is the current guideline value of Iswarya Garden?

The current guideline value of Iswarya Garden is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification of Iswarya Garden?

Iswarya Garden is classified as Residential Class II Type - I, indicating its designation for residential use.

What is the stamp duty rate for properties in Iswarya Garden?

The stamp duty for properties in Iswarya Garden is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.