Guideline Value for Iyyappa Nagar 5th street

Iyyappa Nagar 5th street guideline value

The current guideline value of Iyyappa Nagar 5th 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 5th street has changed

Over the years, the guideline value for Iyyappa Nagar 5th street has seen several revisions. 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 that, the value increased to Rs 2,000 per sq.ft in the 2023 revision, and currently stands at Rs 2,200 per sq.ft from the 2024 revision. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

In terms of percentage changes, the value increased by 49% from 2017 to 2023, followed by a 10% increase from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chembakkam

Chembakkam village has a total of 472 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,700 per sq.ft. The median guideline value for the village is Rs 2,200 per sq.ft, which is the same as the current value for Iyyappa Nagar 5th street.

• Iyyappa Nagar 5th Cross Street: Rs 2,200 per sq.ft (2024)
• Iyyappa Nagar 6th Cross Street: Rs 2,200 per sq.ft (2024)
• Iyyappa Nagar 4th street: Rs 2,200 per sq.ft (2024)
• Iyyappa Nagar 6th street: Rs 2,200 per sq.ft (2024)
• Iyyappa Nagar 4th Cross Street: Rs 2,200 per sq.ft (2024)
• Iyyappa Nagar 7th Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Iyyappa Nagar 5th street

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

Which Sub Registrar Office covers Iyyappa Nagar 5th street?

The Sub Registrar Office that covers Iyyappa Nagar 5th street is 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.

To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Chembakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is conducted at a fair price.

When a property is sold, the registration office uses the guideline value to calculate applicable stamp duty and registration fees. This helps in maintaining transparency and preventing undervaluation during property transactions.

Frequently asked questions

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

The current guideline value of Iyyappa Nagar 5th 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 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 is currently Rs 2,200 per sq.ft from 2024.

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

Other streets in Chembakkam that share the same guideline value of Rs 2,200 per sq.ft include Iyyappa Nagar 5th Cross Street, Iyyappa Nagar 6th Cross Street, Iyyappa Nagar 4th street, Iyyappa Nagar 6th street, Iyyappa Nagar 4th Cross Street, and Iyyappa Nagar 7th Cross Street.

What is the registration fee for a property in Iyyappa Nagar 5th street?

The registration fee for a property in Iyyappa Nagar 5th street is calculated at 2% of the guideline value. For example, for a property valued at Rs 22,00,000, the registration fee would be Rs 44,000.

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. You can find more information by visiting the find your SRO page.