Guideline Value for Iyappan Street ( Palaniappa Nagar)

Iyappan Street ( Palaniappa Nagar) guideline value

The current guideline value of Iyappan Street ( Palaniappa Nagar) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village under the Ambattur SRO, and the land classification is Residential Special Type - II.

How the guideline value of Iyappan Street ( Palaniappa Nagar) has changed

Over the years, the guideline value of Iyappan Street ( Palaniappa Nagar) has seen significant changes. In the 2007 revision, the guideline value was Rs 500 per sq.ft, which increased dramatically to Rs 2,000 per sq.ft in the 2012 revision, marking a 300% rise. However, it then decreased to Rs 1,340 per sq.ft in the 2017 revision, which was a 33% drop. The value rose again to Rs 2,000 per sq.ft in the 2023 revision, and currently stands at Rs 2,200 per sq.ft following the 2024 revision, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%, bringing the value back up to Rs 2,000 per sq.ft. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 340%.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. Iyappan Street ( Palaniappa Nagar) aligns with this median at Rs 2,200 per sq.ft.

• Iyappan Street (Ram Nagar): Rs 2,400 per sq.ft (2024)
• Iyappan Street (Venkateswara Nagar): Rs 1,600 per sq.ft (2024)
• Iyankulam Street (Gandhi Nagar): Rs 1,800 per sq.ft (2024)
• Iyyappan Street(V.L.Puram): Rs 2,400 per sq.ft (2024)
• Indira Nagar: Rs 1,400 per sq.ft (2024)
• Indira Gandhi Street(V.L.Puram): Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Iyappan Street ( Palaniappa Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total cost for these fees Rs 1,98,000. It is important to note that 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 further assistance.

Which Sub Registrar Office covers Iyappan Street ( Palaniappa Nagar)?

The Sub Registrar Office that covers Iyappan Street ( Palaniappa Nagar) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone. You can find your SRO for more information.

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

When buying or selling property in Oragadam, the guideline value plays a crucial role in determining the registration fees and stamp duty. The guideline value is set by the Registration Department and is used as a benchmark for calculating these costs, ensuring that they are based on the official valuation of the property.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial aspects of property transactions. This value is regularly updated to reflect the changing market conditions and is crucial for legal documentation during the registration process.

Frequently asked questions

What is the current guideline value of Iyappan Street ( Palaniappa Nagar)?

The current guideline value of Iyappan Street ( Palaniappa Nagar) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 500 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 340%.

What is the land classification for Iyappan Street ( Palaniappa Nagar)?

The land classification for Iyappan Street ( Palaniappa Nagar) is Residential Special Type - II.

What are the stamp duty and registration fees based on the guideline value?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,98,000.

Which office handles the registration for properties in Iyappan Street ( Palaniappa Nagar)?

The Ambattur Sub Registrar Office handles the registration for properties in Iyappan Street ( Palaniappa Nagar), located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone.