Guideline Value for ISWARYAM NAGAR

Iswaryam Nagar guideline value

The current guideline value of Iswaryam Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This locality is part of Siru Mangadu village, under the Sunguvarchattram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Iswaryam Nagar has changed

Looking at the historical revisions, the guideline value for Iswaryam Nagar has seen several changes. In 2012, the value was set at Rs 200 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 134 per sq.ft. This was a decrease of 33%. However, from 2017 to 2023, the value increased by 49% back to Rs 200 per sq.ft, and it has remained at this level through the 2024 revision, showing no change from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for Iswaryam Nagar. Overall, from the 2012 revision to the 2024 revision, the guideline value has seen no net change.

Guideline values in Siru Mangadu

Siru Mangadu village features nine streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 528 per sq.ft. The guideline value of Iswaryam Nagar aligns with the median value of Rs 200 per sq.ft for this locality.

• Jemi Sirumangadu New Town: Rs 200 per sq.ft (2024)
• Kanniamman Kovil Street: Rs 200 per sq.ft (2024)
• Kumaran Nagar: Rs 300 per sq.ft (2024)
• Mettu Street: Rs 150 per sq.ft (2024)
• Nadu Street: Rs 150 per sq.ft (2024)
• Periya Street: Rs 150 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 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, making the total 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Iswaryam Nagar?

The Sub Registrar Office covering Iswaryam Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Siru Mangadu. It is the basis for calculating the stamp duty and registration fees when buying or selling property. Buyers need to be aware that the guideline value is used to determine the minimum value for registration, ensuring that all transactions are recorded at a fair value.

When selling property, the guideline value ensures that the sale price is not undervalued for the purposes of taxation. This helps maintain transparency in real estate transactions and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Iswaryam Nagar?

The current guideline value of Iswaryam Nagar is Rs 200 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 remained at Rs 200 per sq.ft since 2023, with a previous drop to Rs 134 per sq.ft in 2017. From 2012 to 2017, there was a decrease of 33%, but the value returned to Rs 200 per sq.ft in 2023.

What is the land classification of 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 Iswaryam Nagar?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a property valued at Rs 2,00,000, the total fees would amount to Rs 18,000.

Where is the Sub Registrar Office for Iswaryam Nagar located?

The Sub Registrar Office for Iswaryam Nagar is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.