Guideline Value for ISWARYAM NAGAR PHASE-I

Iswaryam Nagar Phase-I guideline value

The current guideline value of Iswaryam Nagar Phase-I is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Vilvarayanalloor village under the Madurandakam SRO, with a land classification of Residential Special Type - I.

How the guideline value of Iswaryam Nagar Phase-I has changed

The guideline value for Iswaryam Nagar Phase-I has seen several revisions over the years. The earliest available revision is from 2012, which set the value at Rs 200 per sq.ft. This was followed by a decrease to Rs 134 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 200 per sq.ft. The 2024 revision maintains this figure, showing no change from 2023.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, comparing the 2012 figure to the 2024 figure, there is no net change, as both are Rs 200 per sq.ft.

Guideline values in Vilvarayanalloor

In Vilvarayanalloor, there are 23 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 101 to Rs 300 per sq.ft. The median value for these streets is Rs 200 per sq.ft, which is equal to the 2024 figure for Iswaryam Nagar Phase-I.

• Iswaryam Nagar Phase - II: Rs 200 per sq.ft (2024)
• Iswaryam Nagar Phase-III: Rs 200 per sq.ft (2024)
• Iswaryam Nagar Phase-IV: Rs 200 per sq.ft (2024)
• Iswaryam Nagar Phase-V: Rs 200 per sq.ft (2024)
• Iswaryam Nagar Phase-VI: Rs 200 per sq.ft (2024)
• Jam Jam Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Iswaryam Nagar Phase-I

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total fees to Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Iswaryam Nagar Phase-I?

The Sub Registrar Office that covers Iswaryam Nagar Phase-I is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor during the registration of property transactions in Vilvarayanalloor. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when buying or selling property in the area.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the correct amount based on the property's value as determined by the guideline value.

Frequently asked questions

What is the current guideline value of Iswaryam Nagar Phase-I?

The current guideline value of Iswaryam Nagar Phase-I is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft since 2012, with a decrease to Rs 134 per sq.ft in 2017 and then an increase back to Rs 200 per sq.ft by 2023. The 2024 revision maintains this figure.

What is the land classification for Iswaryam Nagar Phase-I?

The land classification for Iswaryam Nagar Phase-I is Residential Special Type - I, which is relevant for understanding the type of development allowed in the area.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% and the registration fee at 2% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate incurs total fees of Rs 18,000.

Where can I find the Sub Registrar Office for Iswaryam Nagar Phase-I?

The Sub Registrar Office for Iswaryam Nagar Phase-I is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.