Guideline Value for IYAPPA NAGAR GROUP II

Iyappa Nagar Group II guideline value

The current guideline value of Iyappa Nagar Group II in Siyamangalam village, under the Walajabad SRO, is Rs 300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Iyappa Nagar Group II has changed

Looking at the revisions, the guideline value for Iyappa Nagar Group II has remained at Rs 250 per sq.ft from the 2012 revision until the 2023 revision. The 2023 revision marked an increase to Rs 250 per sq.ft, which remained unchanged until the 2024 revision, where it increased to Rs 300 per sq.ft, reflecting a 20% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 20%. The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Siyamangalam

In Siyamangalam, there are 12 streets under the Walajabad SRO with a 2024 guideline value ranging from Rs 250 to Rs 371 per sq.ft. The median value for these streets is Rs 300 per sq.ft, placing Iyappa Nagar Group II at the median rate.

• Anugraham Nagar: Rs 250 per sq.ft (2024)
• Anugragham Nagar Ext: Rs 250 per sq.ft (2024)
• Anandham Nagar: Rs 300 per sq.ft (2024)
• Pokisham Nagar: Rs 250 per sq.ft (2024)
• Sri Annamalaiyar Nagar: Rs 300 per sq.ft (2024)
• Sri Ganapathy Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Iyappa Nagar Group II

For a 1,000 sq.ft plot at the current rate of Rs 300 per sq.ft, the guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, making the total Rs 27,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Iyappa Nagar Group II?

The Iyappa Nagar Group II falls under the jurisdiction of the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Iyappa Nagar Group II?

The current guideline value of Iyappa Nagar Group II is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 250 per sq.ft in 2012 to Rs 300 per sq.ft in 2024, marking a 20% increase overall. The value remained unchanged at Rs 250 per sq.ft from 2012 to 2023.

What is the land classification for Iyappa Nagar Group II?

Iyappa Nagar Group II is classified as Residential Special Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Iyappa Nagar Group II?

The Sub Registrar Office for Iyappa Nagar Group II is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 3,00,000, the total fees would amount to Rs 27,000.