Guideline Value for Iyyappa Nagar 3rd Street

Iyyappa Nagar 3rd Street guideline value

The current guideline value of Iyyappa Nagar 3rd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Iyyappa Nagar 3rd Street has changed

The guideline value for Iyyappa Nagar 3rd Street has seen several revisions over the years. The 2007 revision set the value at Rs 450 per sq.ft, which significantly increased to Rs 2,000 per sq.ft in the 2012 revision. However, this value decreased to Rs 1,340 per sq.ft in the 2017 revision. Following that, the 2023 revision raised it to Rs 2,000 per sq.ft, and the latest 2024 revision has set it at Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 389%. Notably, there are no figures available for the years 2002 and 2003 in the register 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 guideline value across these streets is Rs 2,200 per sq.ft, which is the same as the guideline value for Iyyappa Nagar 3rd Street.

• Iyyappa Nagar 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Iyyappa Nagar 4th Cross Street: Rs 2,200 per sq.ft (2024)
• Iyyappa Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Iyyappa Nagar 4th street: Rs 2,200 per sq.ft (2024)
• Iyyappa Nagar 2nd Main Road: Rs 2,200 per sq.ft (2024)
• Iyyappa Nagar 5th Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Iyyappa Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value is Rs 22,00,000. The stamp duty at 7% would amount to 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 or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Iyyappa Nagar 3rd Street?

The Iyyappa Nagar 3rd 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 plays a crucial role during the registration of property transactions in Chembakkam. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Iyyappa Nagar 3rd Street?

The current guideline value of Iyyappa Nagar 3rd 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, reflecting an overall increase of 389% over the years.

What is the median guideline value in Chembakkam?

The median guideline value in Chembakkam is Rs 2,200 per sq.ft, which is the same as the guideline value for Iyyappa Nagar 3rd Street.

What are the stamp duty and registration fees for properties in Iyyappa Nagar 3rd Street?

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

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.