Guideline Value for Iyshwarya City III

Iyshwarya City III guideline value

The current guideline value for Iyshwarya City III is Rs 100 per sq.ft, effective from 1 July 2024. This property is located in Kendiracherry village, under the Madurandakam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Iyshwarya City III has changed

In the 2007 revision, the guideline value was Rs 25 per sq.ft. This figure increased significantly in the following revisions, reaching Rs 100 per sq.ft in both the 2012 and 2023 revisions. However, the 2017 revision saw a decrease to Rs 67 per sq.ft, marking a -33% change from the previous value. The most recent revision in 2024 has maintained the guideline value at Rs 100 per sq.ft, showing no change from the 2023 revision.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 300%. It is important to note that there are no figures available for the years 2002 and 2003 for this street in the register.

Guideline values in Kendiracherry

In Kendiracherry, 17 streets under the Madurandakam SRO have a 2024 guideline value ranging from Rs 100 to Rs 300 per sq.ft, with a median value of Rs 100 per sq.ft. Iyshwarya City III's 2024 figure aligns with this median.

• Iyshwarya City II: Rs 100 per sq.ft (2024)
• Iyshwarya City IV: Rs 100 per sq.ft (2024)
• Iyshwarya city: Rs 100 per sq.ft (2024)
• Green Park: Rs 100 per sq.ft (2024)
• Dhanam Nagar: Rs 100 per sq.ft (2024)
• Lake View: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Iyshwarya City III

For a 1,000 sq.ft plot at the current guideline value of Rs 100 per sq.ft, the total guideline value would amount 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 cost to Rs 9,000. 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 further calculations.

Which Sub Registrar Office covers Iyshwarya City III?

The Sub Registrar Office that covers Iyshwarya City III 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 Kendiracherry

The guideline value is a crucial factor during the registration of property transactions in Kendiracherry. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property, ensuring that both buyers and sellers are aware of the financial obligations involved in the transaction.

When buying or selling property, the guideline value is used to calculate the stamp duty based on the higher of the guideline value or the sale price. This ensures that the registration process is transparent and standardized across different properties in the region.

Frequently asked questions

What is the current guideline value for Iyshwarya City III?

The current guideline value for Iyshwarya City III is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Iyshwarya City III has changed from Rs 25 per sq.ft in 2007 to Rs 100 per sq.ft in 2012, then decreased to Rs 67 per sq.ft in 2017, and has remained at Rs 100 per sq.ft since 2023.

What is the land classification for Iyshwarya City III?

Iyshwarya City III is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty rates for properties in Iyshwarya City III?

The stamp duty rate for properties in Iyshwarya City III is 7% of the guideline value or sale price, whichever is higher. The registration fee is 2% of the guideline value.

Which office handles property registrations for Iyshwarya City III?

The Madurandakam Sub Registrar Office handles property registrations for Iyshwarya City III, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.