Guideline Value for ISWARYAM NAGAR

Iswaryam Nagar guideline value

The current guideline value of Iswaryam Nagar is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Palavayal village, under the Redhills Sub Registrar Office (SRO). The land classification for this street is Residential Class I Type - I.

How the guideline value of Iswaryam Nagar has changed

The guideline value for Iswaryam Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 400 per sq.ft, which was later reduced to Rs 268 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 400 per sq.ft in the 2023 revision, and finally rose to Rs 440 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%, but from 2017 to 2023, it saw a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%, bringing it to the current figure of Rs 440 per sq.ft.

Guideline values in Palavayal

In Palavayal, there are 22 streets under the Redhills SRO that carry a 2024 guideline value. The values range from Rs 275 to Rs 1,200 per sq.ft, with the median value being Rs 440 per sq.ft. Iswaryam Nagar's 2024 figure aligns with this median value.

• Gomathiamman Nagar Annex XIII: Rs 440 per sq.ft (2024)
• Kaavya Garden Annex: Rs 440 per sq.ft (2024)
• Gangaiamman Koil Street: Rs 440 per sq.ft (2024)
• Kumaran Nagar Part V: Rs 440 per sq.ft (2024)
• Meenakshi Nagar: Rs 880 per sq.ft (2024)
• New Star City-1: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Iswaryam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800. Together, the total cost would be Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Iswaryam Nagar?

The Sub Registrar Office that covers Iswaryam Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value is a critical factor when buying or selling property in Palavayal, as it determines the amount of stamp duty and registration fees applicable during the transaction. Buyers and sellers must refer to the latest guideline value to ensure compliance with local regulations.

When registering a property, the guideline value serves as a benchmark for calculating fees. It is essential to understand that the property may not be sold below this value, ensuring that all transactions adhere to the established norms set by the Registration Department.

Frequently asked questions

What is the current guideline value of Iswaryam Nagar?

The current guideline value of Iswaryam Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What is the land classification for Iswaryam Nagar?

The land classification for Iswaryam Nagar is Residential Class I Type - I.

What are the stamp duty and registration fees for property in Iswaryam Nagar?

For a property valued at Rs 4,40,000, the stamp duty would be Rs 30,800 and the registration fee would be Rs 8,800, totaling Rs 39,600.

Which office handles registrations for Iswaryam Nagar?

The Redhills Sub Registrar Office handles registrations for Iswaryam Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.