Guideline Value for Ishwariya Nagar phase-II

Ishwariya Nagar phase-II guideline value

The current guideline value of Ishwariya Nagar phase-II is Rs 200 per sq.ft, effective from 1 July 2024. This street is located in Pazhayaseevaram -A village, under the Walajabad SRO, and is classified as Residential Class III Type - I.

How the guideline value of Ishwariya Nagar phase-II has changed

The guideline value for Ishwariya Nagar phase-II has remained consistent at Rs 200 per sq.ft for the revisions in 2023 and 2024. Prior to this, in 2017, the guideline value was Rs 134 per sq.ft, marking a significant increase of 49% from 2017 to 2023.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, the guideline value has increased by 49% from 2017 to 2024, with no change from 2023 to 2024.

Guideline values in Pazhayaseevaram -A

In Pazhayaseevaram -A, there are 26 streets under the Walajabad SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 500 per sq.ft, with a median value of Rs 350 per sq.ft. Ishwariya Nagar phase-II's 2024 figure is below this median.

• Ishwariya Nagar phase-I: Rs 200 per sq.ft (2024)
• Ishwariya Nagar Phase-IV: Rs 200 per sq.ft (2024)
• Ishwariya Nagar Phase-V: Rs 200 per sq.ft (2024)
• Ishvariya Nagar Phase-III: Rs 200 per sq.ft (2024)
• Harshika Avenue: Rs 250 per sq.ft (2024)
• Kothai Vanam: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Ishwariya Nagar phase-II

For a 1,000 sq.ft plot at the current rate of Rs 200 per sq.ft, the guideline value is Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, totaling Rs 18,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ishwariya Nagar phase-II?

The Sub Registrar Office that covers Ishwariya Nagar phase-II is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Pazhayaseevaram -A

The guideline value is a crucial factor during the registration of property transactions in Pazhayaseevaram -A. It helps determine the stamp duty and registration fees applicable for the property being bought or sold.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ishwariya Nagar phase-II?

The current guideline value of Ishwariya Nagar phase-II is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained the same at Rs 200 per sq.ft for the revisions in 2023 and 2024. It increased from Rs 134 per sq.ft in 2017, reflecting a 49% rise over that period.

What are the guideline values of other streets in Pazhayaseevaram -A?

Other streets in Pazhayaseevaram -A have varying guideline values, ranging from Rs 200 to Rs 500 per sq.ft. The median value for these streets is Rs 350 per sq.ft, with Ishwariya Nagar phase-II being below this median.

What is the stamp duty rate for properties in Ishwariya Nagar phase-II?

The stamp duty rate for properties in Ishwariya Nagar phase-II is 7%, calculated on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Ishwariya Nagar phase-II?

The Sub Registrar Office for Ishwariya Nagar phase-II is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.