Guideline Value for Iswariya Nagar

Iswariya Nagar guideline value

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

How the guideline value of Iswariya Nagar has changed

The guideline value for Iswariya Nagar has seen significant changes over the years. Starting from the 2003 revision, the value was Rs 30 per sq.ft. This increased dramatically to Rs 200 per sq.ft in 2007, marking a 567% rise. The value then rose to Rs 400 per sq.ft in 2012, which was a 100% increase from the previous revision. However, it decreased to Rs 268 per sq.ft in 2017, representing a decline of 33%.

Following the 2017 revision, the guideline value rose to Rs 400 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the value at Rs 440 per sq.ft, which is a 10% increase from the previous year. It is important to note that the register has no figure for Iswariya Nagar for the year 2002.

Guideline values in Grandlyon

In Grandlyon village, there are 82 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 440 to Rs 1,500 per sq.ft. The median value for these streets is Rs 660 per sq.ft, placing Iswariya Nagar's 2024 figure below that median.

• Indra Nagar: Rs 660 per sq.ft (2024)
• Jamuna Nagar: Rs 440 per sq.ft (2024)
• Jh Nagar: Rs 800 per sq.ft (2024)
• Kalaivanar Street: Rs 660 per sq.ft (2024)
• Gayathri Nagar: Rs 440 per sq.ft (2024)
• Kalikambal Nagar: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Iswariya Nagar

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, 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. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Iswariya Nagar?

The Sub Registrar Office that covers Iswariya Nagar 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 Grandlyon

The guideline value is an important factor when buying or selling property in Grandlyon. It serves as the benchmark for calculating stamp duty and registration fees, which are mandatory during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property is registered, the guideline value is used to determine the applicable fees. This means that whether you are purchasing or selling a property, understanding the guideline value is crucial for financial planning and legal compliance.

Frequently asked questions

What is the current guideline value of Iswariya Nagar?

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

How has the guideline value changed over the years?

The guideline value has increased from Rs 30 per sq.ft in 2003 to Rs 440 per sq.ft in 2024, reflecting a total increase of 1367% over the years.

What is the land classification for Iswariya Nagar?

Iswariya Nagar is classified as Residential Class III Type - I, indicating its designation for residential use.

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 property in Iswariya Nagar?

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