Guideline Value for Iswarya Nagar

Iswarya Nagar guideline value

The current guideline value of Iswarya Nagar is Rs 5,500 per sq.ft, effective from 1 July 2024. This area is located in 1. Nolambur village under the Villivakkam SRO and is classified as Residential Class I Type - I.

How the guideline value of Iswarya Nagar has changed

The guideline value for Iswarya Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 3,350 per sq.ft, which was then increased to Rs 5,000 per sq.ft in the 2023 revision. The most recent revision in 2024 raised the guideline value to Rs 5,500 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street. The significant increase from Rs 3,350 per sq.ft in 2017 to Rs 5,500 per sq.ft in 2024 reflects a rise of 49% from 2017 to 2023, followed by the 10% increase in 2024.

Guideline values in 1. Nolambur

In 1. Nolambur, there are 73 streets under the Villivakkam SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median value for these streets is Rs 7,100 per sq.ft, which means the guideline value of Iswarya Nagar is below this median.

• Iswaryam Phase II: Rs 7,100 per sq.ft (2024)
• Jain Nakshathra: Rs 7,100 per sq.ft (2024)
• Jain Sundarbans [Guruswamy Street]: Rs 7,100 per sq.ft (2024)
• Guruswamy Street [Jain Sundarbans]: Rs 7,100 per sq.ft (2024)
• Jeyabarath Apartments: Rs 7,100 per sq.ft (2024)
• Golden Fortune: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Iswarya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000, bringing the total cost for these fees to Rs 4,95,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Iswarya Nagar?

The Sub Registrar Office that covers Iswarya Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in 1. Nolambur

The guideline value is a crucial factor when registering property transactions in 1. Nolambur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the registration fees reflect the property's worth accurately.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can significantly influence the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Iswarya Nagar?

The current guideline value of Iswarya Nagar is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 3,350 per sq.ft to Rs 5,500 per sq.ft in 2024, showing an overall increase of 64%.

What are the other streets in 1. Nolambur and their guideline values?

Other streets in 1. Nolambur have guideline values ranging from Rs 3,300 to Rs 8,800 per sq.ft, with a median of Rs 7,100 per sq.ft.

What are the stamp duty and registration fees for Iswarya Nagar?

For a 1,000 sq.ft plot, the total guideline value is Rs 55,00,000, leading to a stamp duty of Rs 3,85,000 and a registration fee of Rs 1,10,000, totaling Rs 4,95,000.

Which office handles registrations for Iswarya Nagar?

The Villivakkam Sub Registrar Office handles registrations for Iswarya Nagar, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.