Guideline Value for Ishwaryam Nagar Extn.1

Ishwaryam Nagar Extn.1 guideline value

The current guideline value of Ishwaryam Nagar Extn.1 is Rs 440 per sq.ft, as per the 2024 revision effective from 1 July 2024. This area is located in Pammathukulam village under the Redhills SRO and is classified as Residential Class I Type - II.

How the guideline value of Ishwaryam Nagar Extn.1 has changed

Over the years, the guideline value for Ishwaryam Nagar Extn.1 has seen several revisions. The earliest recorded value was Rs 300 per sq.ft in 2007, which increased to Rs 400 per sq.ft in 2012. However, it then decreased to Rs 268 per sq.ft in 2017. Following this, the value rose significantly to Rs 400 per sq.ft in 2023, and further increased to Rs 440 per sq.ft in 2024. The register has no figures for the years 2002 and 2003 for this street.

In terms of percentage changes, from 2007 to 2012, there was an increase of 33%, followed by a decrease of 33% from 2012 to 2017. The value then rose by 49% from 2017 to 2023, and saw a further increase of 10% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 47%.

Guideline values in Pammathukulam

Pammathukulam village currently has 101 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 330 to Rs 825 per sq.ft, where the median value is Rs 550 per sq.ft. The guideline value for Ishwaryam Nagar Extn.1 is below this median.

• Iswariam Nagar Extn.: Rs 440 per sq.ft (2024)
• Iswariam Nagar Extn. II: Rs 440 per sq.ft (2024)
• Jagathambal Nagar: Rs 660 per sq.ft (2024)
• Indhra Nagar: Rs 550 per sq.ft (2024)
• Jayalakshmi Avenue: Rs 330 per sq.ft (2024)
• Green Park Chennai Meadows: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Ishwaryam Nagar Extn.1

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total cost for these fees to Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ishwaryam Nagar Extn.1?

The Sub Registrar Office that covers Ishwaryam Nagar Extn.1 is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Pammathukulam. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure they are paying the correct fees during the registration process.

When a property is registered, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable duties and fees. This ensures that all transactions are conducted fairly and in accordance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Ishwaryam Nagar Extn.1?

The current guideline value of Ishwaryam Nagar Extn.1 is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 440 per sq.ft in 2024, with various increases and decreases in between, including a notable rise of 49% from 2017 to 2023.

What is the land classification of Ishwaryam Nagar Extn.1?

Ishwaryam Nagar Extn.1 is classified as Residential Class I Type - II.

Where can I find the Redhills Sub Registrar Office?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the stamp duty calculated for properties in Ishwaryam Nagar Extn.1?

Stamp duty for properties in Ishwaryam Nagar Extn.1 is calculated at 7% of the higher value between the guideline value and the sale price. Additionally, a registration fee of 2% applies.