Guideline Value for Iyappan street 1st Cross Street (Iyappan nagar)

Iyappan street 1st Cross Street (Iyappan nagar) guideline value

The current guideline value of Iyappan street 1st Cross Street (Iyappan nagar) is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Ayappakkam village and falls under the Ambattur SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Iyappan street 1st Cross Street (Iyappan nagar) has changed

The guideline value for Iyappan street 1st Cross Street has undergone several revisions over the years. In 2007, the guideline value was Rs 400 per sq.ft, which increased significantly to Rs 1,600 per sq.ft in 2012. However, it saw a decrease to Rs 1,072 per sq.ft in 2017. The value then rose to Rs 1,600 per sq.ft in 2023, before reaching the current rate of Rs 1,700 per sq.ft in 2024. The register has no figure for this street in 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2007 to 2012 was a notable rise of 300%, but the value dropped by 33% from 2012 to 2017. Overall, from 2007 to 2024, the guideline value has increased by 325%.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO, with guideline values for 2024 ranging from Rs 550 to Rs 4,000 per sq.ft. The median guideline value in this area is Rs 1,300 per sq.ft, placing Iyappan street 1st Cross Street above that median.

• Iyappan street 2nd Cross Street (Iyappan nagar): Rs 1,700 per sq.ft (2024)
• Iyappan street (Iyappan nagar): Rs 1,700 per sq.ft (2024)
• Jagadeesan Street: Rs 1,100 per sq.ft (2024)
• Jagadeesan Street (Bhavani nagar): Rs 1,600 per sq.ft (2024)
• Jain Nagar: Rs 880 per sq.ft (2024)
• Jain Nagar (Jayalalitha street): Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Iyappan street 1st Cross Street (Iyappan nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Iyappan street 1st Cross Street (Iyappan nagar)?

The Iyappan street 1st Cross Street (Iyappan nagar) falls under 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 details.

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

The guideline value plays a crucial role in property transactions in Ayappakkam. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers and sellers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it ensures transparency in property transactions. It helps in assessing the value of the property and determining the financial obligations associated with the purchase or sale.

Frequently asked questions

What is the current guideline value of Iyappan street 1st Cross Street?

The current guideline value of Iyappan street 1st Cross Street (Iyappan nagar) is Rs 1,700 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 2007 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 325% over the years.

What is the land classification for Iyappan street 1st Cross Street?

The land classification for Iyappan street 1st Cross Street (Iyappan nagar) is Residential Special Type - II.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Iyappan street 1st Cross Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for properties in this area?

The stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 17,00,000, the stamp duty at 7% would be Rs 1,19,000.