Guideline Value for Iyyappa Nagar 7th street

Iyyappa Nagar 7th street guideline value

The current guideline value of Iyyappa Nagar 7th 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 7th street has changed

The guideline value for Iyyappa Nagar 7th street has undergone several revisions over the years. 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 this, the value increased to Rs 2,000 per sq.ft in the 2023 revision, and finally to Rs 2,200 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023, while it decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has seen a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO, with a 2024 guideline value range from Rs 850 to Rs 6,700 per sq.ft. The median value is Rs 2,200 per sq.ft, which is equal to the current guideline value of Iyyappa Nagar 7th street.

• Iyyappa Nagar 7th Cross Street: Rs 2,200 per sq.ft (2024)
• Iyyappa Nagar 8th Cross Street: Rs 2,200 per sq.ft (2024)
• Iyyappa Nagar 6th street: Rs 2,200 per sq.ft (2024)
• Iyyappa Nagar 8th street: Rs 2,200 per sq.ft (2024)
• Iyyappa Nagar 6th Cross Street: Rs 2,200 per sq.ft (2024)
• Iyyappa Nagar 9th Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Iyyappa Nagar 7th 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, making the total cost for these fees 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.

For more information on calculating your fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Iyyappa Nagar 7th street?

The Iyyappa Nagar 7th 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 details.

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 stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Iyyappa Nagar 7th street?

The current guideline value of Iyyappa Nagar 7th 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 to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Iyyappa Nagar 7th street?

Iyyappa Nagar 7th street is classified as Residential Special Type - II.

Which Sub Registrar Office covers this street?

The Selaiyur Sub Registrar Office covers Iyyappa Nagar 7th street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

How is the stamp duty calculated for properties in Iyyappa Nagar 7th street?

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