Guideline Value for ISWARYA NAGAR

Iswarya Nagar guideline value

The current guideline value of Iswarya Nagar, located in Chettiyaragaram village, is Rs 1,650 per sq.ft as per the 2024 revision, effective from 1 July 2024. This area falls under the Chennai South Joint I SRO and is classified as Residential Class I Type - I.

How the guideline value of Iswarya Nagar has changed

Over the years, the guideline value for Iswarya Nagar has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,500 per sq.ft, and the most recent 2024 revision raised it further to Rs 1,650 per sq.ft. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

To summarize the changes: from 2012 to 2017, there was a decrease of 33%. The value then increased by 49% from 2017 to 2023. The 2023 to 2024 revision saw a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chettiyaragaram

In Chettiyaragaram, there are 22 streets under the Chennai South Joint I SRO that have a guideline value for 2024, ranging from Rs 1,210 to Rs 4,400 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, making Iswarya Nagar's 2024 figure below this median.

• Fomra: Rs 4,400 per sq.ft (2024)
• Erikarai Street: Rs 1,210 per sq.ft (2024)
• Dhanalakshmi Nagar: Rs 1,650 per sq.ft (2024)
• Chettiyar Agaram Main Road: Rs 2,420 per sq.ft (2024)
• Chettiyar Agaram 1st Street: Rs 2,420 per sq.ft (2024)
• Murthy Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Iswarya Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value is Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Iswarya Nagar?

The Sub Registrar Office that covers Iswarya Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Chettiyaragaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is taken into account for calculating the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Iswarya Nagar?

The current guideline value of Iswarya Nagar is Rs 1,650 per sq.ft as per the 2024 revision 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 for Iswarya Nagar?

Iswarya Nagar is classified as Residential Class I Type - I under the Chennai South Joint I SRO.

What is the registration office for Iswarya Nagar?

The registration office for Iswarya Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for properties in Iswarya Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 at 7%.