Guideline Value for ISWARYAM NAGAR

Iswaryam Nagar guideline value

The current guideline value of Iswaryam Nagar is Rs 100 per sq.ft, effective from 1 July 2024. This area is located in Kurumpirai village under the Salavakkam SRO and is classified as Residential Class I Type - I.

How the guideline value of Iswaryam Nagar has changed

Reviewing the revisions, the guideline value for Iswaryam Nagar has seen several changes over the years. In 2012, the guideline value was set at Rs 100 per sq.ft, which remained unchanged in the 2023 revision. The 2017 revision marked a decrease to Rs 67 per sq.ft, a 33% decline from 2012. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 100 per sq.ft.

As of the 2024 revision, the guideline value remains at Rs 100 per sq.ft, reflecting no change from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kurumpirai

In Kurumpirai, there are 9 streets under the Salavakkam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 134 per sq.ft, with a median value of Rs 100 per sq.ft. Iswaryam Nagar's 2024 guideline value aligns with this median.

• Imanuvel Nagar: Rs 100 per sq.ft (2024)
• Bright Garden: Rs 100 per sq.ft (2024)
• Nehru Nagar: Rs 100 per sq.ft (2024)
• Om Sakthi Sai Nagar: Rs 100 per sq.ft (2024)
• Rainbow Nagar: Rs 102 per sq.ft (2024)
• Rainbow Nagar Phase-1: Rs 102 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 100 per sq.ft, the total guideline value would be Rs 1,00,000. The stamp duty at 7% would amount to Rs 7,000, and the registration fee at 2% would be Rs 2,000, totaling Rs 9,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Iswaryam Nagar?

The Sub Registrar Office that covers Iswaryam Nagar is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Kurumpirai. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

When buying or selling property, the guideline value helps both parties understand the minimum value for which the property can be registered. This ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Iswaryam Nagar?

The current guideline value of Iswaryam Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with a significant increase of 49% from Rs 67 per sq.ft in 2017 to Rs 100 per sq.ft in 2023. The value has remained constant at Rs 100 per sq.ft from 2023 to 2024.

What is the land classification for Iswaryam Nagar?

Iswaryam Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

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

For a property valued at Rs 1,00,000, the stamp duty would be Rs 7,000 and the registration fee would be Rs 2,000, totaling Rs 9,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Salavakkam Sub Registrar Office located?

The Salavakkam Sub Registrar Office is located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. This office handles the registration of properties in Iswaryam Nagar.