Guideline Value for Iswarya Nagar (Ward-02)

Iswarya Nagar (Ward-02) guideline value

The current guideline value of Iswarya Nagar (Ward-02) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of Iswarya Nagar (Ward-02) has changed

Over the years, the guideline value for Iswarya Nagar has seen several revisions. The earliest recorded figure is from 2012, which was Rs 1,200 per sq.ft. This value then decreased to Rs 804 per sq.ft in 2017. In 2023, the guideline value rose to Rs 1,200 per sq.ft, and in the latest revision for 2024, it increased further to Rs 1,300 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The overall change from 2012 to 2024 shows an increase of 8% in the guideline value.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value among these streets is Rs 1,600 per sq.ft, indicating that the guideline value for Iswarya Nagar (Ward-02) is below the median.

• Iyer Thottam 1st Street (Ponniamman Medu): Rs 1,300 per sq.ft (2024)
• Iyer Thottam 1st st ( Ward No.22 & 23): Rs 1,300 per sq.ft (2024)
• Iyer Thottam 2nd Street (Ponniamman Medu): Rs 1,300 per sq.ft (2024)
• Iyer Thottam 2nd st ( Ward No.22 & 23): Rs 1,300 per sq.ft (2024)
• Iyer Thottam Cross St Connecting ( Ward No.22 ): Rs 1,300 per sq.ft (2024)
• Iyer Thottam Cross Streets ( Ward No.22 & 23): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Iswarya Nagar (Ward-02)

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Iswarya Nagar (Ward-02)?

The Sub Registrar Office covering Iswarya Nagar (Ward-02) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

When buying or selling property in Madhavaram, the guideline value is a crucial factor in determining the stamp duty and registration fees. The guideline value serves as a benchmark for the minimum value at which a property can be registered, ensuring that the transaction is documented accurately.

It is essential for buyers and sellers to be aware of the current guideline values to avoid any discrepancies during the registration process. The guideline value is regularly updated, reflecting changes in the real estate market and local regulations.

Frequently asked questions

What is the current guideline value of Iswarya Nagar?

The current guideline value of Iswarya Nagar (Ward-02) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification of Iswarya Nagar?

Iswarya Nagar is classified as Residential Class III Type - I, indicating its suitability for residential purposes.

What is the stamp duty for property in Iswarya Nagar?

The stamp duty for property in Iswarya Nagar is calculated at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Iswarya Nagar located?

The Sub Registrar Office for Iswarya Nagar (Ward-02) is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.