Guideline Value for Iyyappa Nagar 12th Cross Street

Iyyappa Nagar 12th Cross Street guideline value

The current guideline value of Iyyappa Nagar 12th 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, and is classified as Residential Special Type - II.

How the guideline value of Iyyappa Nagar 12th Cross Street has changed

The guideline value for Iyyappa Nagar 12th Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,000 per sq.ft, a rise of 49%. The most recent revision in 2024 has further increased the guideline value to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 10%.

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 is Rs 2,200 per sq.ft, which is the same as the current value for Iyyappa Nagar 12th Cross Street.

• Iyyappa Nagar 11th Cross Street: Rs 2,200 per sq.ft (2024)
• Iyyappa Nagar 13th Cross street: Rs 2,200 per sq.ft (2024)
• Iyyappa Nagar 10th Street: Rs 2,200 per sq.ft (2024)
• Iyyappa Nagar 14th Cross street: Rs 2,200 per sq.ft (2024)
• Iyyappa Nagar 10th Cross Street: Rs 2,200 per sq.ft (2024)
• Iyyappa Nagar 1st Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Iyyappa Nagar 12th 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, leading to a total of 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 12th Cross Street?

The Iyyappa Nagar 12th Cross Street falls under 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 plays a crucial role in the registration process of property transactions in Chembakkam. It is utilized to determine the stamp duty and registration fees applicable when buying or selling property. The guideline value is set by the government and is updated periodically to reflect changes in the real estate market.

When a property is registered, the higher value between the guideline value and the sale price is considered for calculating the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Iyyappa Nagar 12th Cross Street?

The current guideline value for Iyyappa Nagar 12th 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 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then 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 12th Cross Street?

Iyyappa Nagar 12th Cross Street is classified as Residential Special Type - II.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles registrations for Iyyappa Nagar 12th Cross Street?

The Selaiyur Sub Registrar Office handles registrations for Iyyappa Nagar 12th Cross Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.