Guideline Value for Iswarya Nagar

Iswarya Nagar guideline value

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

How the guideline value of Iswarya Nagar has changed

The guideline value for Iswarya Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 350 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 234 per sq.ft. Following this, the 2023 revision brought the value back up to Rs 350 per sq.ft, and the most recent 2024 revision maintained this value, showing a 0% change from 2023 to 2024. The overall change from 2012 to 2024 is also 0%.

From 2017 to 2023, there was a significant increase of 50%. However, there are no figures available for the years 2002, 2003, and 2007 for this street in the register.

Guideline values in Vada Mangalam

In Vada Mangalam, there are 23 streets under the Sunguvarchattram SRO that carry 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 Nagar's 2024 figure of Rs 350 per sq.ft is above this median.

• Iswarya Lakshmi 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 Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 350 per sq.ft, the total guideline value would be Rs 3,50,000. The stamp duty at 7% would amount to Rs 24,500, and the registration fee at 2% would be Rs 7,000, bringing the total to Rs 31,500. 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 Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, 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 serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When you register a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Iswarya Nagar?

The current guideline value of Iswarya 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 changed from Rs 350 per sq.ft in 2012 to Rs 234 per sq.ft in 2017, then back to Rs 350 per sq.ft in 2023 and 2024, showing a 0% change from 2023 to 2024.

What are the other streets in Vada Mangalam with their guideline values?

Other streets in Vada Mangalam include Iswarya Lakshmi Nagar and Indhira Nagar, both at Rs 350 per sq.ft, while Kakkan Street, Kambar Street, and Gandhi Street are at Rs 200 per sq.ft. Kamarajar Nagar is also at Rs 350 per sq.ft.

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

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at Rs 350 per sq.ft would incur a total guideline value of Rs 3,50,000, with stamp duty and registration fees adding up to Rs 31,500.