Guideline Value for Iyyappa Nagar 3rd st ( Ward No.24 )

Iyyappa Nagar 3rd st ( Ward No.24 ) guideline value

The current guideline value of Iyyappa Nagar 3rd st ( Ward No.24 ) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Iyyappa Nagar 3rd st ( Ward No.24 ) has changed

Since the 2012 revision, the guideline value for Iyyappa Nagar 3rd st has seen a total increase of 8%. The 2012 revision recorded a guideline value of Rs 1,200 per sq.ft, which remained unchanged through the 2023 revision. In 2023, the guideline value was Rs 1,200 per sq.ft, but it increased to Rs 1,300 per sq.ft in the 2024 revision, marking an 8% rise from the previous year.

There are no recorded figures for the years 2002, 2003, 2007, and 2017 for this street. Therefore, the only revisions available are from 2012, 2023, and the current 2024 revision.

Guideline values in Madhavaram

The guideline values for streets in Madhavaram range from Rs 1,300 to Rs 7,500 per sq.ft as of the 2024 revision, with a median value of Rs 1,600 per sq.ft. The guideline value for Iyyappa Nagar 3rd st is below this median.

• Iyyappa Nagar 2nd st ( Ward No.24 ): Rs 1,300 per sq.ft (2024)
• Iyyappa Nagar 2nd Cross st ( Ward No.24 ): Rs 1,300 per sq.ft (2024)
• Iyyappa Nagar 1st st ( Ward No.24 ): Rs 1,300 per sq.ft (2024)
• Iyyappa Nagar Extension: Rs 1,300 per sq.ft (2024)
• Iyyappa Nagar 1St St, Ponniammanmedu (Ward-24): Rs 1,300 per sq.ft (2024)
• Iyyappa Nagar Main Road ( Ward No.24 ): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Iyyappa Nagar 3rd st ( Ward No.24 )

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. Duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Iyyappa Nagar 3rd st ( Ward No.24 )?

The Sub Registrar Office that covers Iyyappa Nagar 3rd st ( Ward No.24 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Madhavaram. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the duty is charged based on the higher value between the guideline value and the sale price. This ensures that the appropriate fees are collected for property transactions in the area.

Frequently asked questions

What is the current guideline value for Iyyappa Nagar 3rd st?

The current guideline value for Iyyappa Nagar 3rd st ( Ward No.24 ) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased by 8% from Rs 1,200 per sq.ft in 2012 to Rs 1,300 per sq.ft in 2024. There were no changes recorded for the years 2002, 2003, 2007, and 2017.

What is the land classification for Iyyappa Nagar 3rd st?

Iyyappa Nagar 3rd st is classified as Residential Class III Type - I. This classification indicates the type of development allowed in the area.

What are the stamp duty rates applicable in Iyyappa Nagar 3rd st?

The stamp duty rate for property transactions in Iyyappa Nagar 3rd st is 7%, while the registration fee is 2%. These fees are calculated based on the higher of the guideline value or the sale price.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.