Guideline Value for Ishwarya Nagar

Ishwarya Nagar guideline value

The current guideline value of Ishwarya Nagar, located in Nandhivaram village under the Gooduvancheri SRO, is Rs 1,200 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Ishwarya Nagar has changed

The guideline value for Ishwarya Nagar has seen several revisions over the years. In 2002, the value was Rs 68 per sq.ft, which increased significantly to Rs 328 per sq.ft in 2007. The 2012 revision saw a rise to Rs 1,200 per sq.ft, which remained unchanged until the 2023 revision. The 2017 revision recorded a value of Rs 804 per sq.ft, marking a 49% increase from the previous figure, but it dropped back to Rs 1,200 per sq.ft in 2012 and stayed the same through 2023. The register has no figure for this street in 2003.

From 2012 to 2017, there was a decrease of 33%, while the jump from 2007 to 2012 was a remarkable 266%. The increase from 2002 to 2007 was 382%. Overall, from 2002 to 2024, the guideline value has increased by 1665%, with the latest revision in 2024 maintaining the value at Rs 1,200 per sq.ft.

Guideline values in Nandhivaram

Nandhivaram village has a total of 169 streets under the Gooduvancheri SRO, with the 2024 guideline values ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median value for these streets is Rs 1,500 per sq.ft, making Ishwarya Nagar's current guideline value below the median.

• Iswarya Nagar Extn: Rs 2,000 per sq.ft (2024)
• Jakeer Hussain Street: Rs 1,200 per sq.ft (2024)
• Janak Pushpa Shanthi Nagar: Rs 3,500 per sq.ft (2024)
• Jayasundar Avenue: Rs 1,000 per sq.ft (2024)
• Jegadesh Nagar: Rs 1,000 per sq.ft (2024)
• Jesuraja Nagar: Rs 1,000 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 1,200 per sq.ft, the total guideline value would be Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, making the total cost for these fees Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more detailed calculations, 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 Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nandhivaram. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

When a property transaction occurs, the guideline value ensures that the government receives appropriate revenue from stamp duties. Buyers and sellers must be aware of this value to accurately assess the costs associated with property transactions.

Frequently asked questions

What is the current guideline value of Ishwarya Nagar?

The current guideline value of Ishwarya Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 68 per sq.ft in 2002 to Rs 1,200 per sq.ft in 2024, with significant fluctuations in between.

What are the other streets in Nandhivaram and their guideline values?

Other streets in Nandhivaram include Iswarya Nagar Extn at Rs 2,000 per sq.ft, Jakeer Hussain Street at Rs 1,200 per sq.ft, and Janak Pushpa Shanthi Nagar at Rs 3,500 per sq.ft, among others.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Ishwarya Nagar located?

The Sub Registrar Office for Ishwarya Nagar is located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone.