Guideline Value for Iyyappa Nagar 4th Cross Street

Iyyappa Nagar 4th Cross Street guideline value

The current guideline value of Iyyappa Nagar 4th 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 is classified as Residential Special Type - II.

How the guideline value of Iyyappa Nagar 4th Cross Street has changed

The guideline value for Iyyappa Nagar 4th Cross Street has undergone several revisions over the years. In 2007, the guideline value was Rs 450 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a rise of 344%. However, between 2012 and 2017, the value decreased to Rs 1,340 per sq.ft, a drop of 33%. The value then rose to Rs 2,000 per sq.ft in 2023, reflecting an increase of 49%. The most recent revision in 2024 has set the guideline value at Rs 2,200 per sq.ft, which is a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 389%.

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 for these streets is Rs 2,200 per sq.ft, which is equal to the current value of Iyyappa Nagar 4th Cross Street.

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

Stamp duty and registration fee for property in Iyyappa Nagar 4th Cross Street

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 fees would be Rs 1,98,000. It's 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 4th Cross Street?

The Iyyappa Nagar 4th Cross 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 buying or selling property in Chembakkam. It serves as a benchmark for determining the minimum value of a property for registration purposes. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction.

When a property is registered, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Iyyappa Nagar 4th Cross Street?

The current guideline value of Iyyappa Nagar 4th 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 increased 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.

Are there any years without a guideline value for this street?

Yes, the register has no figures for the years 2002 and 2003 for Iyyappa Nagar 4th Cross Street.

What is the registration office for Iyyappa Nagar 4th Cross Street?

The Selaiyur Sub Registrar Office covers Iyyappa Nagar 4th Cross Street, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.

How is stamp duty calculated for properties in Iyyappa Nagar 4th Cross Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, along with a registration fee of 2% of the guideline value.