Guideline Value for Iswarya Lakshmi Nagar

Iswarya Lakshmi Nagar guideline value

The current guideline value of Iswarya Lakshmi Nagar is Rs 350 per sq.ft, effective from 1 July 2024. This area is located in Vada Mangalam village under the Sunguvarchattram SRO, classified as Residential Special Type - III.

How the guideline value of Iswarya Lakshmi Nagar has changed

The guideline value for Iswarya Lakshmi Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 350 per sq.ft, which remained unchanged in the following revisions of 2017 and 2023. The 2017 revision saw a decrease to Rs 234 per sq.ft, marking a 33% drop, but it rose again to Rs 350 per sq.ft in 2023, maintaining that figure through to the 2024 revision.

From 2017 to 2023, the guideline value increased by 50%. Notably, the 2024 revision shows no change from the 2023 figure, remaining at Rs 350 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vada Mangalam

In Vada Mangalam, there are 23 streets under the Sunguvarchattram SRO with a 2024 guideline value ranging from Rs 200 to Rs 400 per sq.ft, with a median value of Rs 250 per sq.ft. Iswarya Lakshmi Nagar's 2024 guideline value is above this median.

• Iswarya Nagar: Rs 350 per sq.ft (2024)
• Indhira Nagar: Rs 350 per sq.ft (2024)
• Kakkan Street: Rs 200 per sq.ft (2024)
• Kamarajar Nagar: Rs 350 per sq.ft (2024)
• Kambar Street: Rs 200 per sq.ft (2024)
• Gandhi Street: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Iswarya Lakshmi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 350 per sq.ft, the guideline value is Rs 3,50,000. The stamp duty at 7% would be Rs 24,500, and the registration fee at 2% would be Rs 7,000, totaling Rs 31,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Iswarya Lakshmi Nagar?

The Sub Registrar Office that covers Iswarya Lakshmi Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vada Mangalam. It determines the minimum value at which the property can be registered and is used to calculate applicable stamp duty and registration fees.

When a property is sold, the guideline value serves as a benchmark for the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations and to understand the financial implications of the sale.

Frequently asked questions

What is the current guideline value of Iswarya Lakshmi Nagar?

The current guideline value of Iswarya Lakshmi Nagar is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 350 per sq.ft since 2012, except for a drop to Rs 234 per sq.ft in 2017. It increased back to Rs 350 per sq.ft in 2023 and has not changed in the 2024 revision.

What is the land classification for Iswarya Lakshmi Nagar?

Iswarya Lakshmi Nagar is classified as Residential Special Type - III, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 3,50,000, the stamp duty would be Rs 24,500, and the registration fee would be Rs 7,000, totaling Rs 31,500. These fees are based on the guideline value.

Where can I find the Sub Registrar Office for Iswarya Lakshmi Nagar?

The Sub Registrar Office for Iswarya Lakshmi Nagar is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.