Guideline Value for Iyer Thottam 1st st ( Ward No.22 & 23)

Iyer Thottam 1st st ( Ward No.22 & 23) guideline value

The current guideline value of Iyer Thottam 1st st ( Ward No.22 & 23) is Rs 1,300 per sq.ft. This street is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Iyer Thottam 1st st ( Ward No.22 & 23) has changed

The guideline value for Iyer Thottam 1st st has undergone several revisions over the years. In 2012, the value was Rs 1,200 per sq.ft, which decreased to Rs 804 per sq.ft in 2017. This was a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, reaching Rs 1,200 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 1,300 per sq.ft, marking an 8% increase from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

In Madhavaram, there are a total of 1,946 streets under the Madhavaram SRO, with 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, indicating that the 2024 figure for Iyer Thottam 1st st is below this median.

• Iyer Thottam 1st Street (Ponniamman Medu): Rs 1,300 per sq.ft (2024)
• Iyer Thottam 2nd Street (Ponniamman Medu): Rs 1,300 per sq.ft (2024)
• Iyer Thottam 2nd st ( Ward No.22 & 23): Rs 1,300 per sq.ft (2024)
• Iyer Thottam Cross St Connecting ( Ward No.22): Rs 1,300 per sq.ft (2024)
• Iyer Thottam Cross Streets ( Ward No.22 & 23): Rs 1,300 per sq.ft (2024)
• Iyyappa Nagar 1st Cross Street (Ward 24): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Iyer Thottam 1st st ( Ward No.22 & 23)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. Please note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Iyer Thottam 1st st ( Ward No.22 & 23)?

The Sub Registrar Office that covers Iyer Thottam 1st st ( Ward No.22 & 23) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees payable during the transaction.

When a property is registered, the guideline value is considered to ensure that the transaction reflects the official value set by the authorities. This helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Iyer Thottam 1st st?

The current guideline value of Iyer Thottam 1st st ( Ward No.22 & 23) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 1,200 per sq.ft in 2012, dropping to Rs 804 per sq.ft in 2017, then rising to Rs 1,200 per sq.ft in 2023, and finally reaching Rs 1,300 per sq.ft in 2024.

What is the land classification for Iyer Thottam 1st st?

The land classification for Iyer Thottam 1st st ( Ward No.22 & 23) is Residential Class III Type - I, indicating its use for residential purposes.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles registrations for properties in the area.

How is the stamp duty calculated for properties in Iyer Thottam 1st st?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft would incur a stamp duty of Rs 91,000.