Guideline Value for Iyyappa Nagar 10th Street

Iyyappa Nagar 10th Street guideline value

The current guideline value of Iyyappa Nagar 10th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Special Type - II.

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

The guideline value for Iyyappa Nagar 10th Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 1,340 per sq.ft. Subsequently, the 2023 revision increased the value to Rs 2,000 per sq.ft, and the most recent 2024 revision raised it to Rs 2,200 per sq.ft.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it saw a further rise of 10%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The revisions for the years 2002, 2003, and 2007 do not have any figures recorded for this street.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 6,700 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which is the same as the current value for Iyyappa Nagar 10th Street.

• Iyyappa Nagar 10th Cross Street: 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: 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 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 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Iyyappa Nagar 10th Street?

The Iyyappa Nagar 10th Street falls under the jurisdiction of the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, within the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Chembakkam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is recorded accurately in the public domain.

When a buyer or seller approaches the registration office, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures transparency in property transactions and helps in maintaining the integrity of the real estate market.

Frequently asked questions

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

The current guideline value of Iyyappa Nagar 10th 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 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Iyyappa Nagar 10th Street?

The land classification for Iyyappa Nagar 10th Street is Residential Special Type - II, indicating its designated use for residential purposes.

Which office handles registrations for Iyyappa Nagar 10th Street?

The Selaiyur Sub Registrar Office handles registrations for Iyyappa Nagar 10th Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

How is stamp duty calculated for properties in Iyyappa Nagar 10th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000, leading to a stamp duty of Rs 1,54,000.