Guideline Value for Iyappa Nager

Iyappa Nager guideline value

The current guideline value of Iyappa Nager, located in Sethamangalam village under the Sunguvarchattram SRO, is Rs 405 per sq.ft, effective from 1 July 2024. This area is classified as Commercial Class I Type - I.

How the guideline value of Iyappa Nager has changed

Over the years, the guideline value of Iyappa Nager has seen several revisions. The 2012 revision set the value at Rs 400 per sq.ft, which remained unchanged until the 2017 revision when it dropped to Rs 268 per sq.ft. This was a decrease of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 400 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 405 per sq.ft, marking a 1% increase from the previous year.

The register has no figure for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 1%.

Guideline values in Sethamangalam

Sethamangalam village has 11 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 250 to Rs 500 per sq.ft. The median guideline value for these streets is Rs 400 per sq.ft, placing Iyappa Nager's 2024 figure above that median.

• Kulakkarai Street: Rs 250 per sq.ft (2024)
• Madha Kovil Street: Rs 500 per sq.ft (2024)
• Chennai - Bangalore National Highway: Rs 500 per sq.ft (2024)
• New Colony First Street: Rs 250 per sq.ft (2024)
• New Colony Second Street: Rs 250 per sq.ft (2024)
• New Colony Third Street: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Iyappa Nager

For a 1,000 sq.ft plot at the current guideline value of Rs 405 per sq.ft, the total guideline value would be Rs 4,05,000. The stamp duty at 7% would amount to Rs 28,350, and the registration fee at 2% would be Rs 8,100, making the total charges Rs 36,450. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Iyappa Nager?

The Sub Registrar Office that covers Iyappa Nager 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 Sethamangalam

The guideline value plays a crucial role in the registration process when buying or selling property in Sethamangalam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid to the government.

When a property is sold, the guideline value is considered to ensure that the transaction is recorded at a fair value. This helps in maintaining transparency in property transactions and ensures that the appropriate taxes are collected based on the established guideline values.

Frequently asked questions

What is the current guideline value of Iyappa Nager?

The current guideline value of Iyappa Nager is Rs 405 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then back to Rs 400 per sq.ft in 2023, and currently stands at Rs 405 per sq.ft in 2024.

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

Other streets in Sethamangalam have guideline values ranging from Rs 250 to Rs 500 per sq.ft. For example, Kulakkarai Street is Rs 250 per sq.ft, while Madha Kovil Street and Chennai - Bangalore National Highway are both Rs 500 per sq.ft.

What is the stamp duty rate in Iyappa Nager?

The stamp duty rate in Iyappa Nager is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Iyappa Nager?

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