Guideline Value for Iyyappa Nagar 2nd Street

Iyyappa Nagar 2nd Street guideline value

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

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

The guideline value for Iyyappa Nagar 2nd 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 dropped to Rs 1,340 per sq.ft, reflecting a decrease of 33%. In the subsequent 2023 revision, the value increased to Rs 2,000 per sq.ft, before rising again to Rs 2,200 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The 2017 revision does not have a figure for this street, and neither do the revisions from 2002, 2003, and 2007.

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 is equal to the guideline value of Iyyappa Nagar 2nd Street.

• Iyyappa Nagar 2nd Main Road: Rs 2,200 per sq.ft (2024)
• Iyyappa Nagar 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Iyyappa Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Iyyappa Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Iyyappa Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Iyyappa Nagar 4th Cross Street: Rs 2,200 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% is Rs 1,54,000, and the registration fee at 2% is Rs 44,000, resulting in a total of 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 use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Iyyappa Nagar 2nd Street?

The Iyyappa Nagar 2nd 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 crucial factor when registering property transactions in Chembakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair value of the property. It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

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

The current guideline value of Iyyappa Nagar 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much 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 increased 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 Street?

The land classification for Iyyappa Nagar 2nd Street is Residential Special Type - II.

What are the other streets in Chembakkam with the same guideline value?

Other streets in Chembakkam that have the same guideline value of Rs 2,200 per sq.ft include Iyyappa Nagar 2nd Main Road, 3rd Cross Street, 2nd Cross Street, 3rd Street, 1st Street, and 4th Cross Street.

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.