Guideline Value for Iyyappa Nagar 5th Cross Street

Iyyappa Nagar 5th Cross Street guideline value

The current guideline value of Iyyappa Nagar 5th Cross 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 5th Cross Street has changed

The guideline value for Iyyappa Nagar 5th 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. However, there was a decrease to Rs 1,340 per sq.ft in 2017. The value then rose to Rs 2,000 per sq.ft in 2023, before reaching the current rate of Rs 2,200 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 389%. The revisions for the years 2002 and 2003 do not have any figures recorded 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 is Rs 2,200 per sq.ft, which is equal to the current guideline value for Iyyappa Nagar 5th Cross Street.

• Iyyappa Nagar 4th street: Rs 2,200 per sq.ft (2024)
• Iyyappa Nagar 5th street: Rs 2,200 per sq.ft (2024)
• Iyyappa Nagar 4th Cross Street: Rs 2,200 per sq.ft (2024)
• Iyyappa Nagar 6th Cross Street: Rs 2,200 per sq.ft (2024)
• Iyyappa Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Iyyappa Nagar 6th street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Iyyappa Nagar 5th 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, and the registration fee at 2% would be Rs 44,000, bringing the total fees together 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 our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Iyyappa Nagar 5th Cross Street?

The Iyyappa Nagar 5th 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 reference point for determining the stamp duty and registration fees that are applicable during the registration process. Buyers and sellers must consider this value to ensure that they comply with local regulations.

When a property is registered, the guideline value is used to calculate the applicable fees, which can significantly affect the overall cost of the transaction. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Iyyappa Nagar 5th Cross Street?

The current guideline value of Iyyappa Nagar 5th 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 are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles the registration for Iyyappa Nagar 5th Cross Street?

The Selaiyur Sub Registrar Office handles the registration for Iyyappa Nagar 5th Cross Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

How is the guideline value determined for properties in Chembakkam?

The guideline value for properties in Chembakkam is determined based on various factors, including land classification and location. It is periodically revised to reflect changes in the real estate market.