Guideline Value for Iyswarya Nagar

Iyswarya Nagar guideline value

The current guideline value of Iyswarya Nagar, located in Nemilicherry village, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area falls under the Pallavaram SRO and is classified as Residential Class I Type - III.

How the guideline value of Iyswarya Nagar has changed

The guideline value for Iyswarya Nagar has seen several revisions over the years. In the 2007 revision, the value was set at Rs 250 per sq.ft, which significantly increased to Rs 2,200 per sq.ft in the 2012 revision. However, this figure dropped by 33% to Rs 1,474 per sq.ft in 2017. The 2023 revision then raised the value to Rs 2,000 per sq.ft, culminating in a 10% increase to the current rate of Rs 2,200 per sq.ft in 2024.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the increase in guideline value is 780%.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,100 to Rs 3,300 per sq.ft as of 2024. The median value for these streets is Rs 2,160 per sq.ft, placing Iyswarya Nagar's current guideline value above this median.

• Harijan Colony: Rs 1,100 per sq.ft (2024)
• Kabali Street: Rs 2,160 per sq.ft (2024)
• Kakkan Street: Rs 2,200 per sq.ft (2024)
• Gross Street: Rs 2,160 per sq.ft (2024)
• Kamaraj Street: Rs 2,200 per sq.ft (2024)
• Kambar Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Iyswarya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Iyswarya Nagar?

The Iyswarya Nagar area is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nemilicherry. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these charges are based on the official valuation of the property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties and fees. This ensures that the transaction is recorded accurately and in accordance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Iyswarya Nagar?

The current guideline value of Iyswarya Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 780% over this period.

What are the other streets in Nemilicherry and their guideline values?

Other streets in Nemilicherry include Harijan Colony at Rs 1,100 per sq.ft, Kabali Street at Rs 2,160 per sq.ft, Kakkan Street at Rs 2,200 per sq.ft, Gross Street at Rs 2,160 per sq.ft, Kamaraj Street at Rs 2,200 per sq.ft, and Kambar Street at Rs 2,200 per sq.ft.

What is the stamp duty rate in Iyswarya Nagar?

The stamp duty rate in Iyswarya Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Iyswarya Nagar?

The Sub Registrar Office covering Iyswarya Nagar is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.