Guideline Value for ISWARYAM NAGAR PHASE-V

Iswaryam Nagar Phase-V guideline value

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

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

The guideline value for Iswaryam Nagar Phase-V has undergone several revisions over the years. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged in the following revisions of 2017 and 2023. The 2017 revision marked a significant increase to Rs 134 per sq.ft, reflecting a 49% rise from the previous figure. However, the 2024 revision returned to Rs 200 per sq.ft, resulting in no overall change from 2012 to 2024.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. This indicates that the guideline value remained constant during those periods without any recorded changes.

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, placing Iswaryam Nagar Phase-V at this median level.

• Iswaryam Nagar Phase-I: Rs 200 per sq.ft (2024)
• 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-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-V

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, and the registration fee at 2% would be Rs 4,000, making the total cost for these fees Rs 18,000. 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 Iswaryam Nagar Phase-V?

The Sub Registrar Office that covers Iswaryam Nagar Phase-V 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 information.

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

The guideline value is a crucial factor in the registration process for property transactions in Vilvarayanalloor. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid 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 of the two is used to calculate the applicable fees. This ensures that the fees reflect the actual market conditions and the value of the property being transferred.

Frequently asked questions

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

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

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent changes being a return to Rs 200 per sq.ft in 2024, after a rise to Rs 134 per sq.ft in 2017. Overall, there has been no change in the guideline value from 2012 to 2024.

Which Sub Registrar Office is responsible for Iswaryam Nagar Phase-V?

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

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

The stamp duty is charged at 7% and the registration fee at 2% of the higher value between the guideline value and the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 18,000.

Are there any other streets in Vilvarayanalloor with the same guideline value?

Yes, there are several other streets in Vilvarayanalloor that share the same guideline value of Rs 200 per sq.ft for 2024, including Iswaryam Nagar Phase-I, Phase-II, Phase-III, Phase-IV, Phase-VI, and Jam Jam Nagar.