Guideline Value for IYAPPAN NAGAR

Iyappan Nagar guideline value

The current guideline value of Iyappan Nagar is Rs 400 per sq.ft, effective from 1 July 2024. This locality is situated in Siruthavoor village, under the Thiruporur Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of Iyappan Nagar has changed

In the 2012 revision, the guideline value was set at Rs 250 per sq.ft. This figure increased to Rs 167 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value rose significantly to Rs 400 per sq.ft, which is a 140% increase. The 2023 revision maintained this value, with no change noted for 2024.

Overall, comparing the 2012 revision to the current 2024 guideline value, there has been an increase of 60%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Siruthavoor

In Siruthavoor, there are six streets under the Thiruporur SRO that carry a 2024 guideline value, ranging from Rs 350 to Rs 1,385 per sq.ft. The median value for these streets is Rs 825 per sq.ft, placing Iyappan Nagar's 2024 figure below this median.

• Brick Field: Rs 350 per sq.ft (2024)
• Omr Sri City: Rs 1,250 per sq.ft (2024)
• Sri Ganapathi Nagar: Rs 400 per sq.ft (2024)
• Metro Bliss City: Rs 1,290 per sq.ft (2024)
• Omr Sri City Phase II: Rs 1,385 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 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total fees to Rs 36,000. 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 Iyappan Nagar?

The Iyappan Nagar area is covered by the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Siruthavoor. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared against the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Iyappan Nagar?

The current guideline value of Iyappan Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2012 to Rs 400 per sq.ft in 2024, reflecting an overall increase of 60% over this period.

What is the stamp duty rate for properties in Iyappan Nagar?

The stamp duty rate for properties in Iyappan Nagar is 7% of the guideline value or sale price, whichever is higher.

Which office handles property registration in Iyappan Nagar?

The Thiruporur Sub Registrar Office handles property registration for Iyappan Nagar, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.

What are the guideline values of other streets in Siruthavoor?

Other streets in Siruthavoor have varying guideline values, ranging from Rs 350 to Rs 1,385 per sq.ft, with Iyappan Nagar's value being Rs 400 per sq.ft.