Guideline Value for Iyyappa Nagar 2nd Cross Street

Iyyappa Nagar 2nd Cross Street guideline value

The current guideline value of Iyyappa Nagar 2nd 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 it falls under the Residential Special Type - II land classification.

How the guideline value of Iyyappa Nagar 2nd Cross Street has changed

Over the years, the guideline value of Iyyappa Nagar 2nd Cross Street has seen several revisions. The earliest available figure is from 2007, where the value was Rs 450 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in 2012, marking a substantial rise of 344%. However, the value then dropped to Rs 1,340 per sq.ft in 2017, a decrease of 33%. The guideline value saw a notable increase to Rs 2,000 per sq.ft in 2023, followed by another increase to Rs 2,200 per sq.ft in 2024, reflecting a 10% rise.

From 2017 to 2023, the guideline value increased by 49%. The overall increase from the 2007 figure to the current 2024 figure is 389%. Notably, there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Chembakkam

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

• Iyyappa Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Iyyappa Nagar 2nd Main Road: Rs 2,200 per sq.ft (2024)
• Iyyappa Nagar 1st Main Road: Rs 2,200 per sq.ft (2024)
• Iyyappa Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Iyyappa Nagar 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Iyyappa Nagar 3rd Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Iyyappa Nagar 2nd Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value would be 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, making the total 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 2nd Cross Street?

The Sub Registrar Office that covers Iyyappa Nagar 2nd 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 information.

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

The guideline value plays a crucial role during the registration of property transactions in Chembakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is referenced to calculate the applicable stamp duty and registration fees. Buyers should be aware that these charges are based on the guideline value or the sale price, whichever is higher, to ensure compliance with registration regulations.

Frequently asked questions

What is the current guideline value of Iyyappa Nagar 2nd Cross Street?

The current guideline value of Iyyappa Nagar 2nd 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, marking an overall increase of 389% over the years.

What is the land classification for Iyyappa Nagar 2nd Cross Street?

Iyyappa Nagar 2nd Cross Street is classified as Residential Special Type - II.

Where can I find the Selaiyur Sub Registrar Office?

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

How is stamp duty calculated for property in Iyyappa Nagar 2nd Cross Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 1,98,000 based on the current guideline value.