Guideline Value for Iyyappa Nagar 1st Street

Iyyappa Nagar 1st Street guideline value

The current guideline value of Iyyappa Nagar 1st 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 1st Street has changed

The guideline value for Iyyappa Nagar 1st Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 2,000 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 1,340 per sq.ft, marking a drop of 33%. However, from 2017 to 2023, the value significantly increased by 49%, reaching Rs 2,000 per sq.ft. The most recent revision in 2024 raised 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, from 2012 to 2024, the guideline value has increased by 10%.

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 guideline value for these streets is Rs 2,200 per sq.ft, which is equal to the 2024 figure for Iyyappa Nagar 1st Street. Below are other streets in Chembakkam with their respective guideline values:

• Iyyappa Nagar 1st Main Road: Rs 2,200 per sq.ft (2024)
• Iyyappa Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Iyyappa Nagar 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Iyyappa Nagar 2nd Main Road: Rs 2,200 per sq.ft (2024)
• Iyyappa Nagar 14th Cross street: Rs 2,200 per sq.ft (2024)
• Iyyappa Nagar 2nd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Iyyappa Nagar 1st 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 and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Iyyappa Nagar 1st Street?

The Iyyappa Nagar 1st Street is covered by 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 information.

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

The guideline value is a critical factor when registering a property in Chembakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction process.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees. These fees are essential costs that need to be factored into the overall expenses involved in property transactions in the area.

Frequently asked questions

What is the current guideline value of Iyyappa Nagar 1st Street?

The current guideline value of Iyyappa Nagar 1st 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 of Iyyappa Nagar 1st Street 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 are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees amount to Rs 1,98,000.

Which office handles the registration of properties in Iyyappa Nagar 1st Street?

The Selaiyur Sub Registrar Office handles the registration of properties in Iyyappa Nagar 1st Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai.

What is the land classification for Iyyappa Nagar 1st Street?

Iyyappa Nagar 1st Street is classified as Residential Special Type - II, which indicates its suitability for residential development.