Guideline Value for Iyyappa Nagar 10th Cross Street

Iyyappa Nagar 10th Cross Street guideline value

The current guideline value of Iyyappa Nagar 10th Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village under the Selaiyur SRO, classified as Residential Special Type - II.

How the guideline value of Iyyappa Nagar 10th Cross Street has changed

The guideline value for Iyyappa Nagar 10th Cross Street has undergone several revisions over the years. In 2007, the value was Rs 450 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, it dropped to Rs 1,340 per sq.ft in 2017 before rising to Rs 2,000 per sq.ft in 2023. The latest revision in 2024 set the guideline value at Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

Between the revisions, the changes were notable: from 2007 to 2012, there was a substantial increase of 344%, while the value decreased by 33% from 2012 to 2017. The value then saw a significant rise of 49% from 2017 to 2023. Overall, from 2007 to 2024, the guideline value has increased by 389%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 6,700 per sq.ft. The median value is Rs 2,200 per sq.ft, which is equal to the guideline value of Iyyappa Nagar 10th Cross Street.

• Iyyappa Nagar 10th Street: Rs 2,200 per sq.ft (2024)
• Iyyappa Nagar: Rs 2,200 per sq.ft (2024)
• Iyyappa Nagar 11th Cross Street: Rs 2,200 per sq.ft (2024)
• Iyyappa Nagar 12th Cross Street: Rs 2,200 per sq.ft (2024)
• Iyyappa Nagar 13th Cross street: Rs 2,200 per sq.ft (2024)
• Iyyappa Nagar 14th Cross street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Iyyappa Nagar 10th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Iyyappa Nagar 10th Cross Street?

The Sub Registrar Office that covers Iyyappa Nagar 10th Cross Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration of property transactions in Chembakkam. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps establish a fair basis for the transaction, ensuring that both parties are aware of the minimum value recognized by the authorities. This value is used during the registration process to determine the applicable fees and taxes.

Frequently asked questions

What is the current guideline value of Iyyappa Nagar 10th Cross Street?

The current guideline value of Iyyappa Nagar 10th Cross Street 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 450 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 389% over the years.

What is the median guideline value in Chembakkam?

The median guideline value in Chembakkam is Rs 2,200 per sq.ft, which is the same as the current guideline value for Iyyappa Nagar 10th Cross Street.

What are the stamp duty and registration fees for a property in Iyyappa Nagar 10th Cross Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,98,000.

Where is the Sub Registrar Office for Iyyappa Nagar 10th Cross Street located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.