Guideline Value for Iswariam Nagar Extn. II

Iswariam Nagar Extn. II guideline value

The current guideline value of Iswariam Nagar Extn. II is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Pammathukulam village and falls under the Redhills SRO. The land classification for this street is Residential Class I Type - II.

How the guideline value of Iswariam Nagar Extn. II has changed

The guideline value for Iswariam Nagar Extn. II has seen several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 189 per sq.ft. This figure increased significantly to Rs 39 per sq.ft in 2003, marking a decrease of 79%. The value then rose dramatically to Rs 300 per sq.ft in 2007, reflecting an increase of 669%. In 2012, the guideline value was Rs 400 per sq.ft, which was a 33% decrease from the previous revision. The value remained at Rs 400 per sq.ft in 2023, before increasing to Rs 440 per sq.ft in the 2024 revision, which is a 10% rise.

From 2017 to 2023, the guideline value increased from Rs 268 per sq.ft to Rs 400 per sq.ft, showing a 49% rise. Overall, from 2002 to 2024, the guideline value has increased by 133%. There are no figures available for any other revisions for this street.

Guideline values in Pammathukulam

Pammathukulam village has a range of guideline values across its 101 streets under the Redhills SRO, with values from Rs 330 to Rs 825 per sq.ft. The median guideline value for these streets is Rs 550 per sq.ft, placing Iswariam Nagar Extn. II's 2024 figure below that median.

• Iswariam Nagar Extn.: Rs 440 per sq.ft (2024)
• Ishwaryam Nagar Extn.1: 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 Iswariam Nagar Extn. II

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total charges 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 Iswariam Nagar Extn. II?

The Sub Registrar Office that covers Iswariam Nagar Extn. II 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 is a crucial factor when registering property transactions in Pammathukulam. It serves as the basis for calculating stamp duty and registration fees, which are mandatory during the sale or purchase of property. Buyers and sellers should be aware that the guideline value may differ from the actual sale price, and the higher amount will be used for calculating the applicable duties.

When engaging in a property transaction, it is essential to reference the current guideline value to ensure compliance with local regulations. This ensures that all parties involved are aware of the financial implications related to the registration process.

Frequently asked questions

What is the current guideline value of Iswariam Nagar Extn. II?

The current guideline value of Iswariam Nagar Extn. II 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 189 per sq.ft in 2002 to Rs 440 per sq.ft in 2024, showing a significant increase over the years.

What is the registration office for Iswariam Nagar Extn. II?

The registration office for Iswariam Nagar Extn. II is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the stamp duty calculated for property in Iswariam Nagar Extn. II?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 30,800 based on the current guideline value.

What are the guideline values for other streets in Pammathukulam?

The guideline values for other streets in Pammathukulam range from Rs 330 to Rs 825 per sq.ft, with a median of Rs 550 per sq.ft. Iswariam Nagar Extn. II's value is below this median.