Guideline Value for IYYAPPA NAGAR

Iyyappa Nagar guideline value

The current guideline value of Iyyappa Nagar is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Nanmangalam village, under the Pallavaram SRO, and is classified as Mixed Type - I.

How the guideline value of Iyyappa Nagar has changed

The guideline value for Iyyappa Nagar has seen several revisions over the years. In 2012, the guideline value was Rs 3,500 per sq.ft. This figure decreased to Rs 2,345 per sq.ft in 2017. However, from 2017 to 2023, the value increased significantly to Rs 3,500 per sq.ft, and then further rose to Rs 3,850 per sq.ft in 2024. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

When looking at the changes, the guideline value increased by 49% from 2017 to 2023 and by 10% from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Nanmangalam

Nanmangalam village has a total of 139 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,960 to Rs 3,850 per sq.ft. The median guideline value for these streets is Rs 2,750 per sq.ft, placing Iyyappa Nagar's 2024 figure above that median.

• Jaiganesh Nagar Part-I: Rs 3,300 per sq.ft (2024)
• INDRA NAGAR(NEAR BY SITHARTH NAGAR 1st STREET): Rs 1,980 per sq.ft (2024)
• Indira Nagar 1 To 8 Streets: Rs 1,980 per sq.ft (2024)
• Hasthinapuram Salai 1 To 10 Streets: Rs 1,960 per sq.ft (2024)
• Hasthinapuram Salai: Rs 1,960 per sq.ft (2024)
• G.P. Samy Nagar Layout: Rs 3,300 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 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, making the total charges Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Iyyappa Nagar?

The Sub Registrar Office that covers Iyyappa Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Nanmangalam. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees payable at the time of registration.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, reflecting the current market conditions as determined by the state authorities. This helps in maintaining transparency in property transactions.

Frequently asked questions

What is the current guideline value of Iyyappa Nagar?

The current guideline value of Iyyappa Nagar is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,850 per sq.ft in 2024.

What is the median guideline value in Nanmangalam?

The median guideline value for the 139 streets in Nanmangalam is Rs 2,750 per sq.ft, with Iyyappa Nagar's value being above this median.

What are the stamp duty rates for property in Iyyappa Nagar?

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

Where is the Sub Registrar Office for Iyyappa Nagar located?

The Sub Registrar Office for Iyyappa Nagar is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.