Guideline Value for Ishwariya Nagar phase-I

Ishwariya Nagar phase-I guideline value

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

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

In the 2017 revision, the guideline value was Rs 134 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 200 per sq.ft. The latest revision in 2024 continues this value at Rs 200 per sq.ft, showing no change from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Overall, from the 2017 revision to the 2024 revision, there has been a 49% increase in the guideline value. The transition from 2017 to 2023 saw a significant increase of 49%, but the value has remained stable from 2023 to 2024.

Guideline values in Pazhayaseevaram -A

Pazhayaseevaram -A has 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-I's 2024 figure is below this median.

• Ishwariya Nagar phase-II: Rs 200 per sq.ft (2024)
• Ishwariya Nagar Phase-IV: Rs 200 per sq.ft (2024)
• Ishvariya Nagar Phase-III: Rs 200 per sq.ft (2024)
• Ishwariya Nagar Phase-V: 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-I

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to 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-I?

The Sub Registrar Office that covers Ishwariya Nagar phase-I 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 crucial when registering property transactions in Pazhayaseevaram -A, as it determines the minimum value at which a property can be registered. Buyers and sellers must be aware of the guideline value to ensure compliance with registration requirements.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and that the government receives the appropriate revenue from the sale.

Frequently asked questions

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

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

How has the guideline value changed over the years?

From the 2017 revision to the 2024 revision, the guideline value has increased by 49%. There was no change from 2023 to 2024, as both years recorded a value of Rs 200 per sq.ft.

What is the land classification of Ishwariya Nagar phase-I?

Ishwariya Nagar phase-I is classified as Residential Class III Type - I, indicating its suitability for residential development.

Where is the Walajabad Sub Registrar Office located?

The Walajabad Sub Registrar Office is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty and registration fee of Rs 18,000.