Guideline Value for Iyshwarya City II

Iyshwarya City II guideline value

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

How the guideline value of Iyshwarya City II has changed

The guideline value for Iyshwarya City II has undergone several revisions over the years. In the 2007 revision, the value was Rs 25 per sq.ft, which increased to Rs 100 per sq.ft in the 2012 revision. However, it then decreased to Rs 67 per sq.ft in the 2017 revision, before stabilizing at Rs 100 per sq.ft in both the 2023 and 2024 revisions. The register has no figure for the years 2002 and 2003 for this street.

From 2017 to 2023, there was a significant increase of 49%, while the overall change from 2007 to 2024 reflects a substantial increase of 300%. Notably, the value remained unchanged from 2023 to 2024, maintaining the rate of Rs 100 per sq.ft.

Guideline values in Kendiracherry

Kendiracherry village has 17 streets under the Madurandakam SRO with a 2024 guideline value ranging from Rs 100 to Rs 300 per sq.ft. The median value for these streets is Rs 100 per sq.ft, placing Iyshwarya City II at this median value.

• Iyshwarya city: Rs 100 per sq.ft (2024)
• Iyshwarya City III: Rs 100 per sq.ft (2024)
• Iyshwarya City IV: 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 II

For a 1,000 sq.ft plot at the current guideline value of Rs 100 per sq.ft, the total guideline value would be Rs 1,00,000. The stamp duty, charged at 7%, would amount to Rs 7,000, and the registration fee at 2% would be Rs 2,000, leading to a total of 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 II?

The Sub Registrar Office covering Iyshwarya City II 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 in the registration of property transactions in Kendiracherry. 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 you register a property, the guideline value is assessed to ensure that the transaction is in line with the prevailing rates in the area. This helps in maintaining transparency and fairness in the property market.

Frequently asked questions

What is the current guideline value for Iyshwarya City II?

The current guideline value for Iyshwarya City II 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 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 remained at Rs 100 per sq.ft in 2023 and 2024.

Which Sub Registrar Office covers this area?

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

What are the stamp duty rates for property transactions?

The stamp duty for property transactions is charged at 7% of the guideline value or the sale price, whichever is higher. The registration fee is charged at 2%.

What is the significance of the guideline value?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that the property is registered at a fair value according to the prevailing rates in the area.