Guideline Value for IYAPPAN NAGAR

Iyappan Nagar guideline value

The current guideline value of Iyappan Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This street is located in Mamandoor village, under the Chengleput Joint II SRO, and is classified as Residential Special Type - II.

How the guideline value of Iyappan Nagar has changed

Over the years, the guideline value for Iyappan Nagar has seen several revisions. The 2012 revision set the value at Rs 500 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 500 per sq.ft. The 2017 revision recorded a lower value of Rs 335 per sq.ft, marking a decrease of 33% from the 2012 figure. The register does not contain figures for the years 2002, 2003, and 2007.

From 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 500 per sq.ft. The overall change from 2012 to 2024 shows no variation in the guideline value, remaining at Rs 500 per sq.ft throughout this period.

Guideline values in Mamandoor

Mamandoor village has a total of 41 streets under the Chengleput Joint II SRO, with the 2024 guideline values ranging from Rs 300 to Rs 1,200 per sq.ft. The median value across these streets is Rs 500 per sq.ft, which is equal to the guideline value of Iyappan Nagar.

• Jayam Nagar: Rs 800 per sq.ft (2024)
• G.S.T Brithavanam Co-Op Nagar: Rs 800 per sq.ft (2024)
• Green City: Rs 400 per sq.ft (2024)
• Gracy Garden: Rs 500 per sq.ft (2024)
• Express Avenue: Rs 400 per sq.ft (2024)
• K.R. Nagar: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Iyappan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, making the total cost Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Iyappan Nagar?

The Sub Registrar Office that covers Iyappan Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Mamandoor. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. This value is essential for ensuring that the transaction is recorded accurately in the official records.

When buyers and sellers engage in a property transaction, the guideline value helps establish a baseline for the property's worth. It ensures that the government receives the appropriate revenue from the transaction, as the fees are calculated based on this value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Iyappan Nagar?

The current guideline value of Iyappan Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Iyappan Nagar has seen various revisions, with the value remaining at Rs 500 per sq.ft from 2012 to 2024, despite a drop to Rs 335 per sq.ft in 2017.

What are the other streets in Mamandoor with their guideline values?

Other streets in Mamandoor include Jayam Nagar and G.S.T Brithavanam Co-Op Nagar at Rs 800 per sq.ft, Green City and Express Avenue at Rs 400 per sq.ft, and Gracy Garden at Rs 500 per sq.ft.

How is the stamp duty calculated for properties in Iyappan Nagar?

Stamp duty for properties in Iyappan Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a total cost of Rs 45,000 in fees based on the current guideline value.

Where can I find the Sub Registrar Office for Iyappan Nagar?

The Sub Registrar Office covering Iyappan Nagar is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, under the Chengalpattu registration zone.