Guideline Value for Iyyappa Nagar 2nd Main Road

Iyyappa Nagar 2nd Main Road guideline value

The current guideline value for Iyyappa Nagar 2nd Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This road 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 Main Road has changed

The guideline value for Iyyappa Nagar 2nd Main Road 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. Following this, the value increased significantly to Rs 2,000 per sq.ft in the 2023 revision, and finally, it rose to Rs 2,200 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33% in the guideline value, while from 2017 to 2023, it increased by 49%. Overall, the guideline value has increased by 10% from 2012 to 2024. The register has no figures for the years 2002, 2003, and 2007 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 value for these streets is Rs 2,200 per sq.ft, which matches the current guideline value for Iyyappa Nagar 2nd Main Road.

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

Stamp duty and registration fee for property in Iyyappa Nagar 2nd Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total cost for these fees would be Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Iyyappa Nagar 2nd Main Road?

The Iyyappa Nagar 2nd Main Road 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 information.

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

The guideline value is a crucial factor during property registration in Chembakkam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is documented at a fair value as per government standards.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential for the legal transfer of property ownership. Buyers should be aware of these values to ensure compliance with local regulations during the transaction process.

Frequently asked questions

What is the current guideline value for Iyyappa Nagar 2nd Main Road?

The current guideline value for Iyyappa Nagar 2nd Main Road 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 2nd Main Road?

Iyyappa Nagar 2nd Main Road is classified as Residential Special Type - II.

Where is the Selaiyur Sub Registrar Office 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.

How is stamp duty calculated for properties in Iyyappa Nagar 2nd Main Road?

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 at Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000.