Guideline Value for Iyappan street 2nd Cross Street (Iyappan nagar)

Iyappan street 2nd Cross Street (Iyappan nagar) guideline value

The current guideline value of Iyappan street 2nd 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, classified as Residential Special Type - II.

How the guideline value of Iyappan street 2nd Cross Street (Iyappan nagar) has changed

Over the years, the guideline value of Iyappan street 2nd Cross Street has seen significant changes. The 2007 revision set the value at Rs 400 per sq.ft, which increased to Rs 1,600 per sq.ft in 2012. However, there was a decrease to Rs 1,072 per sq.ft in 2017. The value then rose to Rs 1,600 per sq.ft in 2023, and currently stands at Rs 1,700 per sq.ft from the 2024 revision. The changes between these revisions are notable: from 2007 to 2012, there was a 300% increase, followed by a 33% decrease from 2012 to 2017, and a 49% increase from 2017 to 2023. The latest revision from 2023 to 2024 reflects a 6% increase.

It is important to note that the guideline value register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO carrying a 2024 guideline value, ranging from Rs 550 to Rs 4,000 per sq.ft. The median value for these streets is Rs 1,300 per sq.ft, placing Iyappan street 2nd Cross Street above this median.

• Iyappan street 1st 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 2nd Cross Street (Iyappan nagar)

For a 1,000 sq.ft plot at the current rate of Rs 1,700 per sq.ft, the guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, totaling 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Iyappan street 2nd Cross Street (Iyappan nagar)?

The Iyappan street 2nd 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 information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ayappakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. This ensures that both the buyer and seller are aware of the financial obligations involved in the property transfer.

When a property is registered, the guideline value is used to calculate the applicable duties, which are charged at the time of registration. This process helps in maintaining transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Iyappan street 2nd Cross Street?

The current guideline value of Iyappan street 2nd 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 significantly from Rs 400 per sq.ft in 2007 to Rs 1,700 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification of Iyappan street 2nd Cross Street?

Iyappan street 2nd Cross Street is classified as Residential Special Type - II.

Where can I find the Ambattur Sub Registrar Office?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for properties in Ayappakkam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the appropriate fees are applied during the registration of the property.