Guideline Value for Ishwarya Nagar

Ishwarya Nagar guideline value

The current guideline value of Ishwarya Nagar, located in Madhavaram village under the Madhavaram SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Ishwarya Nagar has changed

The guideline value for Ishwarya Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and most recently to Rs 1,300 per sq.ft in 2024, marking an 8% increase from the previous year. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. Ishwarya Nagar's 2024 guideline value is below this median.

• Iswarya Nagar (Ward-02): Rs 1,300 per sq.ft (2024)
• Inner ring road: Rs 3,800 per sq.ft (2024)
• Iyer Thottam 1st Street (Ponniamman Medu): Rs 1,300 per sq.ft (2024)
• Iyer Thottam 1st st (Ward No.22 & 23): Rs 1,300 per sq.ft (2024)
• Iyer Thottam 2nd Street (Ponniamman Medu): Rs 1,300 per sq.ft (2024)
• Iyer Thottam 2nd st (Ward No.22 & 23): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ishwarya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, making the total Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ishwarya Nagar?

The Sub Registrar Office that covers Ishwarya Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is an important factor during property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the registration process adheres to the official valuation set by the government.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that all transactions are transparent and in accordance with the legal requirements set by the Registration Department.

Frequently asked questions

What is the current guideline value of Ishwarya Nagar?

The current guideline value of Ishwarya Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What are the other streets in Madhavaram with similar guideline values?

Other streets in Madhavaram with a guideline value of Rs 1,300 per sq.ft include Iyer Thottam 1st Street, Iyer Thottam 1st st (Ward No.22 & 23), Iyer Thottam 2nd Street, and Iyer Thottam 2nd st (Ward No.22 & 23).

What is the registration fee for properties in Ishwarya Nagar?

The registration fee for properties in Ishwarya Nagar is calculated based on the guideline value. For example, for a property valued at Rs 13,00,000, the registration fee would be Rs 26,000 at 2%.

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

The Sub Registrar Office for Ishwarya Nagar is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find more details by following the provided link.