Guideline Value for Isvariyam Avenue

Isvariyam Avenue guideline value

The current guideline value of Isvariyam Avenue, located in Eraiyur village under the Sriperumpudur SRO, is Rs 200 per sq.ft as per the 2024 revision, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Isvariyam Avenue has changed

Looking at the historical guideline values, the 2007 revision set the rate at Rs 50 per sq.ft. This figure saw a significant increase in the 2012 revision, where it rose to Rs 200 per sq.ft, marking a 300% increase. However, in the following 2017 revision, the value dropped to Rs 134 per sq.ft, which is a decrease of 33% from the previous revision.

From 2017 to 2023, the guideline value increased to Rs 200 per sq.ft, reflecting a 49% rise. The most recent revision in 2024 has maintained this value at Rs 200 per sq.ft, showing no change from the 2023 figure. Notably, the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Eraiyur

In Eraiyur village, there are 35 streets under the Sriperumpudur SRO that have a 2024 guideline value ranging from Rs 100 to Rs 471 per sq.ft. The median guideline value for these streets is Rs 200 per sq.ft, which is equal to the 2024 figure for Isvariyam Avenue.

• Inbambigai Nagar: Rs 200 per sq.ft (2024)
• Jeyam Nagar: Rs 200 per sq.ft (2024)
• Green Hoilday Resorts: Rs 300 per sq.ft (2024)
• Ezhil Nagar Extn: Rs 200 per sq.ft (2024)
• Ezhil Nagar: Rs 250 per sq.ft (2024)
• Krishnammal Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Isvariyam Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total 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, bringing the total to Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Isvariyam Avenue?

The Sub Registrar Office that covers Isvariyam Avenue is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Eraiyur. It serves as a basis for calculating the stamp duty and registration fees, which are mandatory during property transactions.

When a property is sold, the guideline value is used to ensure that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Isvariyam Avenue?

The current guideline value of Isvariyam Avenue is Rs 200 per sq.ft, as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 50 per sq.ft in 2007 to Rs 200 per sq.ft in 2012. After a decrease to Rs 134 per sq.ft in 2017, it returned to Rs 200 per sq.ft in 2023 and has remained the same in 2024.

What is the land classification for Isvariyam Avenue?

Isvariyam Avenue falls under the Residential Class II Type - I land classification, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Isvariyam Avenue?

The Sub Registrar Office for Isvariyam Avenue is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for property in Isvariyam Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 200 per sq.ft, the total guideline value would be Rs 2,00,000, resulting in a stamp duty of Rs 14,000.