Guideline Value for Iyyappa Nagar 6th Cross Street

Iyyappa Nagar 6th Cross Street guideline value

The current guideline value of Iyyappa Nagar 6th 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 6th Cross Street has changed

The guideline value for Iyyappa Nagar 6th Cross Street has undergone several revisions over the years. In 2007, the value was Rs 450 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, it saw 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 value of Rs 2,200 per sq.ft in 2024, marking a 10% increase from the previous year.

Between the revisions, the changes were as follows: from 2007 to 2012, there was a substantial increase of 344%. The value then decreased by 33% from 2012 to 2017. Following this, there was a significant increase of 49% from 2017 to 2023. Overall, from 2007 to 2024, the guideline value has increased by 389%. The register has no figures for the years 2002 and 2003 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 value of Iyyappa Nagar 6th Cross Street.

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

Stamp duty and registration fee for property in Iyyappa Nagar 6th 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 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, bringing the total to 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 6th Cross Street?

The Sub Registrar Office that covers Iyyappa Nagar 6th Cross 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.

You can find your SRO for additional 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, as it determines the minimum price at which a property can be registered. This value is set by the Registration Department and is subject to periodic revisions based on various factors.

When a property is sold, the buyer must pay stamp duty and registration fees 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 6th Cross Street?

The current guideline value of Iyyappa Nagar 6th 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, reflecting a total increase of 389% over the years.

What is the land classification for Iyyappa Nagar 6th Cross Street?

Iyyappa Nagar 6th Cross Street is classified as Residential Special Type - II.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Iyyappa Nagar 6th Cross Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000.