Guideline Value for Iswariam Nagar Extn.

Iswariam Nagar Extn. guideline value

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

How the guideline value of Iswariam Nagar Extn. has changed

The guideline value for Iswariam Nagar Extn. has undergone several revisions over the years. In 2002, the guideline value was Rs 189 per sq.ft, which increased significantly to Rs 20 per sq.ft in 2003. Following this, there was a dramatic rise to Rs 300 per sq.ft in 2007, and then it changed to Rs 400 per sq.ft in 2012. However, it decreased to Rs 268 per sq.ft in 2017 before reaching Rs 400 per sq.ft again in 2023. The most recent revision in 2024 set the guideline value at Rs 440 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 133%. Notably, there are no figures available for the revisions in years other than those mentioned for this street.

Guideline values in Pammathukulam

In Pammathukulam, there are 101 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 825 per sq.ft, with a median value of Rs 550 per sq.ft. The guideline value for Iswariam Nagar Extn. is below this median.

• Iswariam Nagar Extn. II: 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.

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, resulting in a total of 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Iswariam Nagar Extn.?

The Sub Registrar Office that covers Iswariam Nagar Extn. 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 details.

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

When buying or selling property in Pammathukulam, the guideline value is a crucial factor that determines the stamp duty and registration fees. This value is established by the Registration Department and is used to assess the amount payable during the registration process.

The guideline value serves as a benchmark for property transactions, ensuring that the registration fees are calculated based on a standardized value set for different areas. This helps maintain transparency and consistency in property dealings within the region.

Frequently asked questions

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

The current guideline value of Iswariam Nagar Extn. 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, reflecting an overall increase of 133% over the years.

What is the registration office for Iswariam Nagar Extn.?

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

How is stamp duty calculated for properties in Iswariam Nagar Extn.?

Stamp duty for properties in Iswariam Nagar Extn. is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 30,800.

What are the guideline values of other streets in Pammathukulam?

Other streets in Pammathukulam have varying guideline values. For instance, Iswariam Nagar Extn. II and Ishwaryam Nagar Extn.1 both have a guideline value of Rs 440 per sq.ft, while Jagathambal Nagar has a value of Rs 660 per sq.ft.