Guideline Value for Ishwarya Colony

Ishwarya Colony guideline value

The current guideline value of Ishwarya Colony, located in Kazhikundram village under the Adayar SRO, is Rs 9,900 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Ishwarya Colony has changed

The guideline value for Ishwarya Colony has seen several revisions over the years. The 2012 revision set the value at Rs 9,000 per sq.ft, which then decreased to Rs 6,030 per sq.ft in the 2017 revision. Following this, the value rose significantly to Rs 9,000 per sq.ft in 2023, and further increased to Rs 9,900 per sq.ft in the 2024 revision. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023, and by 10% from 2023 to 2024. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

Guideline values in Kazhikundram

In Kazhikundram, there are 68 streets under the Adayar SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 12,700 per sq.ft. The median value for these streets is Rs 6,600 per sq.ft, placing Ishwarya Colony's 2024 figure above this median.

• Ista Chithi Vinayagar Koil Street: Rs 3,900 per sq.ft (2024)
• Indira Nagar 9th Lane: Rs 6,600 per sq.ft (2024)
• Indira Nagar 9th Cross Road: Rs 7,700 per sq.ft (2024)
• Indira Nagar 8th Lane: Rs 6,600 per sq.ft (2024)
• Indira Nagar 8th Cross Road: Rs 7,700 per sq.ft (2024)
• Indira Nagar 7th Lane: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Ishwarya Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 9,900 per sq.ft, the total guideline value would be Rs 99,00,000. The stamp duty at 7% would be Rs 6,93,000, and the registration fee at 2% would be Rs 1,98,000, making the total costs Rs 8,91,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ishwarya Colony?

The Sub Registrar Office that covers Ishwarya Colony is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kazhikundram. It helps determine the stamp duty and registration fees that must be paid, ensuring that all transactions are conducted in accordance with the law.

When a property is sold, the guideline value serves as a benchmark for the minimum sale price, and the stamp duty is calculated based on this value or the actual sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ishwarya Colony?

The current guideline value of Ishwarya Colony is Rs 9,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 9,000 per sq.ft in 2012 to Rs 6,030 per sq.ft in 2017, then increased to Rs 9,000 per sq.ft in 2023, and finally to Rs 9,900 per sq.ft in 2024.

What is the land classification for Ishwarya Colony?

The land classification for Ishwarya Colony is Residential Special Type - I.

Where can I find the Sub Registrar Office for Ishwarya Colony?

The Adayar Sub Registrar Office covers Ishwarya Colony, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is stamp duty calculated in Ishwarya Colony?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 99,00,000, the stamp duty would be calculated at 7% of this amount.