Guideline Value for Iyeshwarya Nagar

Iyeshwarya Nagar guideline value

The current guideline value of Iyeshwarya Nagar in Pazhayanoor village is Rs 100 per sq.ft, effective from 1 July 2024. This area falls under the Madurandakam SRO and is classified as Residential Class I Type - I.

How the guideline value of Iyeshwarya Nagar has changed

The guideline value for Iyeshwarya Nagar has seen several revisions over the years. In 2007, the value was Rs 50 per sq.ft, which increased to Rs 100 per sq.ft in 2012. However, it then dropped to Rs 67 per sq.ft in 2017, before returning to Rs 100 per sq.ft in both 2023 and the upcoming 2024 revision. Notably, the register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, there was a significant increase of 49%, while the change from 2012 to 2017 was a decrease of 33%. The overall change from 2007 to 2024 reflects a 100% increase, indicating that the value has doubled since the 2007 revision.

Guideline values in Pazhayanoor

Pazhayanoor village has nine streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 800 per sq.ft. The median value for these streets is Rs 300 per sq.ft, placing Iyeshwarya Nagar's 2024 figure below that median.

• Jayam Seenu Garden: Rs 200 per sq.ft (2024)
• Lakshmi Nagar: Rs 300 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 250 per sq.ft (2024)
• Mahalakshmi Nagar Phase -I: Rs 448 per sq.ft (2024)
• Anand Nagar Phase II: Rs 448 per sq.ft (2024)
• Rmbx Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Iyeshwarya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 100 per sq.ft, the total guideline value amounts to Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, bringing the total fees to Rs 9,000. It is important to note that 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 details.

Which Sub Registrar Office covers Iyeshwarya Nagar?

The Sub Registrar Office that covers Iyeshwarya Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Pazhayanoor. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Iyeshwarya Nagar?

The current guideline value of Iyeshwarya Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 50 per sq.ft in 2007 to Rs 100 per sq.ft in 2012, then decreased to Rs 67 per sq.ft in 2017, and returned to Rs 100 per sq.ft in both 2023 and 2024.

What are the stamp duty and registration fees for property in Iyeshwarya Nagar?

For a property valued at Rs 1,00,000, the stamp duty would be Rs 7,000 and the registration fee would be Rs 2,000, totaling Rs 9,000.

Which Sub Registrar Office covers Iyeshwarya Nagar?

The Madurandakam Sub Registrar Office covers Iyeshwarya Nagar, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

What is the land classification of Iyeshwarya Nagar?

Iyeshwarya Nagar is classified as Residential Class I Type - I, indicating its designation for residential development.