Guideline Value for IYYAPPA NAGAR

Iyyappa Nagar guideline value

The current guideline value of Iyyappa Nagar, located in Nadukuthagai village under the Avadi SRO, is Rs 600 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - II land classification.

How the guideline value of Iyyappa Nagar has changed

The guideline value for Iyyappa Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 550 per sq.ft, which then decreased to Rs 368 per sq.ft in 2017. Following this, the 2023 revision increased the value to Rs 550 per sq.ft, and the most recent 2024 revision raised it further to Rs 600 per sq.ft, marking a 9% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 9%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Nadukuthagai

Nadukuthagai village has a total of 35 streets under the Avadi SRO, with guideline values ranging from Rs 330 to Rs 1,980 per sq.ft. The median guideline value in this village is Rs 880 per sq.ft, placing Iyyappa Nagar's 2024 figure below that median.

• Iyyappa Avenue Extn: Rs 600 per sq.ft (2024)
• Indira Gandhi Nagar: Rs 600 per sq.ft (2024)
• Kailash Nagar: Rs 1,590 per sq.ft (2024)
• Kailash Nagar Extn: Rs 1,590 per sq.ft (2024)
• Gokulam Street / Nagar: Rs 660 per sq.ft (2024)
• Gayathri Nagar And Cross Street: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Iyyappa Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, while the registration fee at 2% would be Rs 12,000, bringing the total fees to Rs 54,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Iyyappa Nagar?

The Iyyappa Nagar area is covered by the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Nadukuthagai. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a buyer or seller engages in a property transaction, the guideline value helps in assessing the financial implications of the sale. It serves as a benchmark for calculating the necessary fees and ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Iyyappa Nagar?

The current guideline value of Iyyappa Nagar is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 550 per sq.ft in 2012 to Rs 368 per sq.ft in 2017, then to Rs 550 per sq.ft in 2023, and finally to Rs 600 per sq.ft in 2024.

What is the land classification of Iyyappa Nagar?

Iyyappa Nagar is classified as Residential Class II Type - II, which indicates its suitability for residential development.

What are the stamp duty and registration fees for a property in Iyyappa Nagar?

For a property valued at Rs 6,00,000, the stamp duty would be Rs 42,000 and the registration fee would be Rs 12,000, totaling Rs 54,000.

Which Sub Registrar Office covers Iyyappa Nagar?

The Avadi Sub Registrar Office covers Iyyappa Nagar, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.