Guideline Value for IYAPPA NAGAR

Iyappa Nagar guideline value

The current guideline value of Iyappa Nagar, located in Malliyankaranai village under the Uthiramerur SRO, is Rs 401 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of Iyappa Nagar has changed

Over the years, the guideline value of Iyappa Nagar has seen several revisions. The 2012 revision set the value at Rs 400 per sq.ft, which then decreased to Rs 268 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 400 per sq.ft, and the most recent 2024 revision has brought it to Rs 401 per sq.ft. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

In summary, the guideline value has changed as follows: from Rs 400 in 2012 to Rs 268 in 2017 (a decrease of 33%), then up to Rs 400 in 2023 (an increase of 49%), and finally to Rs 401 in 2024 (no change). Overall, from 2012 to 2024, the guideline value remains the same at Rs 400 per sq.ft.

Guideline values in Malliyankaranai

In Malliyankaranai, there are 42 streets under the Uthiramerur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 603 per sq.ft, with a median value of Rs 401 per sq.ft. Iyappa Nagar's 2024 guideline value is equal to this median.

• Gandhi Nagar: Rs 250 per sq.ft (2024)
• Kg Rakesh Nagar: Rs 402 per sq.ft (2024)
• Krishna Nagar: Rs 250 per sq.ft (2024)
• Durai Raj Nagar: Rs 603 per sq.ft (2024)
• DSS Avenue: Rs 450 per sq.ft (2024)
• DSR Avenue: Rs 450 per sq.ft (2024)

Stamp duty and registration fee for property in Iyappa Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 401 per sq.ft, the total guideline value would be Rs 4,01,000. The stamp duty at 7% would amount to Rs 28,070, and the registration fee at 2% would be Rs 8,020, bringing the total fees to Rs 36,090. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Iyappa Nagar?

The Iyappa Nagar area falls under the Uthiramerur Sub Registrar Office, located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Malliyankaranai. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized valuation of the property.

When a property transaction occurs, the guideline value helps determine the financial obligations of both the buyer and seller. It is essential for buyers to be aware of the guideline value to understand the costs involved in the registration process and to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Iyappa Nagar?

The current guideline value of Iyappa Nagar is Rs 401 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 in 2012 to Rs 268 in 2017, then back up to Rs 400 in 2023, and finally to Rs 401 in 2024.

What is the land classification of Iyappa Nagar?

Iyappa Nagar is classified as Residential Special Type - II, which influences its guideline value.

Where can I find the Uthiramerur Sub Registrar Office?

The Uthiramerur Sub Registrar Office is located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone.

How is stamp duty calculated in Iyappa Nagar?

Stamp duty in Iyappa Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.