Guideline Value for Iyshwarya city

Iyshwarya city guideline value

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

How the guideline value of Iyshwarya city has changed

The guideline value for Iyshwarya city has undergone several revisions over the years. In 2007, the guideline value was Rs 25 per sq.ft, which increased significantly to Rs 100 per sq.ft in 2012. However, from 2012 to 2017, there was a decrease to Rs 67 per sq.ft. The value then rose to Rs 100 per sq.ft in both 2023 and the latest revision in 2024, indicating no change from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 300%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kendiracherry

In Kendiracherry village, there are 17 streets under the Madurandakam SRO that 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's current guideline value aligns with this median.

• Iyshwarya City II: 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

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, totaling Rs 9,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Iyshwarya city?

The Iyshwarya city area falls under 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 critical factor in the registration process 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 registering a property, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government collects the appropriate fees based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Iyshwarya city?

The current guideline value of Iyshwarya city 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 several times, starting from Rs 25 per sq.ft in 2007 to Rs 100 per sq.ft in 2012, then dropping to Rs 67 per sq.ft in 2017, and returning to Rs 100 per sq.ft in both 2023 and 2024.

Where can I find the Madurandakam Sub Registrar Office?

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

What is the stamp duty for property in Iyshwarya city?

The stamp duty for property in Iyshwarya city is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 1,00,000 would incur a stamp duty of Rs 7,000.

What other streets have guideline values in Kendiracherry?

Other streets in Kendiracherry include Iyshwarya City II, Iyshwarya City III, Iyshwarya City IV, Green Park, Dhanam Nagar, and Lake View, with values ranging from Rs 100 to Rs 300 per sq.ft.