Guideline Value for Iyswarya Nagar

Iyswarya Nagar guideline value

The current guideline value of Iyswarya Nagar, located in Zaminpallavaram village under the Pallavaram SRO, is Rs 2,750 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Iyswarya Nagar has changed

The guideline value of Iyswarya Nagar has undergone several revisions over the years. In 2003, the value was Rs 154 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2007. The 2012 revision saw the value rise to Rs 2,500 per sq.ft, but it then dropped to Rs 1,675 per sq.ft in 2017. The guideline value then increased to Rs 2,500 per sq.ft in 2023, before reaching the current rate of Rs 2,750 per sq.ft in 2024. The register has no figure for this street in 2002.

Between the revisions, the changes were notable. From 2003 to 2007, there was an increase of +290%, followed by a +317% rise from 2007 to 2012. However, the value decreased by -33% from 2012 to 2017. The value then saw a significant increase of +49% from 2017 to 2023, and a further rise of +10% from 2023 to 2024. Overall, from 2003 to 2024, the guideline value has increased by +1686%.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are a total of 638 streets that carry a guideline value for 2024, ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Iyswarya Nagar's 2024 figure below that median.

• Jagath Avenue 1 To 4 Streets: Rs 2,750 per sq.ft (2024)
• Isaiyagam Street: Rs 3,300 per sq.ft (2024)
• Javvadhu Hussain Street: Rs 2,160 per sq.ft (2024)
• Jayalakshmi Avenue: Rs 3,300 per sq.ft (2024)
• Indra Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Jayalakshmi Nagar: Rs 3,300 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 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000. Together, the total cost for stamp duty and registration would be Rs 2,47,500. 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 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 Zaminpallavaram

The guideline value plays a crucial role in property transactions in Zaminpallavaram. It is used as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be considered for calculating the applicable duties.

When registering a property, it is essential to provide accurate information regarding the property value to ensure compliance with local regulations. This helps in maintaining transparency and upholding the integrity of property transactions in the area.

Frequently asked questions

What is the current guideline value of Iyswarya Nagar?

The current guideline value of Iyswarya Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 154 per sq.ft in 2003 to Rs 2,750 per sq.ft in 2024, marking an overall increase of +1686% during this period.

What is the land classification for Iyswarya Nagar?

The land classification for Iyswarya Nagar is Residential Class II Type - I.

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

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles property registrations for Iyswarya Nagar?

The Pallavaram Sub Registrar Office handles property registrations for Iyswarya Nagar, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.