Guideline Value for Iyappan street(Iyappan nagar)

Iyappan street(Iyappan nagar) guideline value

The current guideline value of Iyappan 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(Iyappan nagar) has changed

The guideline value for Iyappan street has seen several revisions over the years. The 2007 revision recorded a value of Rs 400 per sq.ft, which increased significantly to Rs 1,600 per sq.ft in 2012. However, it then decreased to Rs 1,072 per sq.ft in 2017. The value rose again to Rs 1,600 per sq.ft in 2023 and is currently set at Rs 1,700 per sq.ft from the 2024 revision.

In terms of percentage changes, the value increased by 300% from 2007 to 2012, then decreased by 33% from 2012 to 2017. Following that, there was a substantial increase of 49% from 2017 to 2023. Finally, from 2023 to 2024, the guideline value rose by 6%. Overall, from 2007 to 2024, the guideline value has increased by 325%. The register has no figures for the years 2002 and 2003.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 4,000 per sq.ft. The median value among these streets is Rs 1,300 per sq.ft, placing Iyappan street's 2024 figure above this median.

• Iyappan street 2nd Cross Street (Iyappan nagar): Rs 1,700 per sq.ft (2024)
• Iyappan street 1st Cross 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(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 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, making the total charges Rs 1,53,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Iyappan street(Iyappan nagar)?

The Sub Registrar Office that covers Iyappan street (Iyappan 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 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 calculating the stamp duty and registration fees, ensuring that these charges are based on a standardized value set by the government.

When a property is sold, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately in the official registry, protecting the interests of both the buyer and seller.

Frequently asked questions

What is the current guideline value of Iyappan street(Iyappan nagar)?

The current guideline value of Iyappan 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, reflecting an overall increase of 325% over the years.

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

Other streets in Ayappakkam include Iyappan street 2nd Cross Street and Iyappan street 1st Cross Street, both at Rs 1,700 per sq.ft, Jagadeesan Street at Rs 1,100 per sq.ft, and Jain Nagar at Rs 880 per sq.ft, among others.

Where can I find the Sub Registrar Office for Iyappan street(Iyappan nagar)?

The Sub Registrar Office for Iyappan street (Iyappan nagar) 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 Iyappan street(Iyappan nagar)?

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