Guideline Value for Iswariya Nagar

Iswariya Nagar guideline value

The current guideline value of Iswariya Nagar is Rs 275 per sq.ft, effective from 1 July 2024. This area is located in Sirungavoor village, under the Redhills SRO, and is classified as Residential Class I Type - I.

How the guideline value of Iswariya Nagar has changed

The guideline value for Iswariya Nagar has seen significant changes over the years. In 2003, the value was Rs 21 per sq.ft, which increased to Rs 100 per sq.ft in 2007. The value then rose sharply to Rs 250 per sq.ft in 2012, before dropping to Rs 167 per sq.ft in 2017. The 2023 revision set the value at Rs 250 per sq.ft, and the most recent revision in 2024 has brought it to Rs 275 per sq.ft.

From 2017 to 2023, there was a 50% increase, while the jump from 2023 to 2024 was 10%. The 2012 to 2017 revision saw a decrease of 33%, and the 2007 to 2012 period experienced a significant increase of 150%. Overall, from 2003 to 2024, the guideline value has increased by 1210%. The register has no figure for the year 2002 for this street.

Guideline values in Sirungavoor

In Sirungavoor, there are 24 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 220 to Rs 1,500 per sq.ft, with the median value being Rs 275 per sq.ft. Iswariya Nagar's 2024 figure matches this median.

• Kamalammal Nagar: Rs 440 per sq.ft (2024)
• Lakshmi Nagar: Rs 275 per sq.ft (2024)
• Ashok Metrovaram: Rs 650 per sq.ft (2024)
• Aravind Farms: Rs 275 per sq.ft (2024)
• Anna Nagar: Rs 275 per sq.ft (2024)
• Padmavathi Nagar: Rs 275 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 275 per sq.ft, the total guideline value amounts to Rs 2,75,000. The stamp duty at 7% would be Rs 19,250, and the registration fee at 2% would be Rs 5,500, totaling Rs 24,750. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the 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 Sirungavoor

The guideline value is a crucial factor during the registration of property transactions in Sirungavoor. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Iswariya Nagar?

The current guideline value of Iswariya Nagar is Rs 275 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 21 per sq.ft in 2003 to Rs 275 per sq.ft in 2024, with several revisions in between, including a notable increase of 1210% overall from 2003 to 2024.

What are the other streets in Sirungavoor with their guideline values?

Other streets in Sirungavoor include Kamalammal Nagar at Rs 440 per sq.ft, Lakshmi Nagar, Aravind Farms, Anna Nagar, and Padmavathi Nagar at Rs 275 per sq.ft, and Ashok Metrovaram at Rs 650 per sq.ft.

What is the stamp duty rate for properties in Iswariya Nagar?

The stamp duty rate for properties in Iswariya Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Iswariya Nagar?

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