Guideline Value for Iyyappa Nagar 8th Cross Street

Iyyappa Nagar 8th Cross Street guideline value

The current guideline value of Iyyappa Nagar 8th 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 8th Cross Street has changed

The guideline value for Iyyappa Nagar 8th Cross Street has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 450 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in 2012, marking an increase of 344%. However, the value dropped to Rs 1,340 per sq.ft in 2017, a decrease of 33%. Following this, the value rose to Rs 2,000 per sq.ft in 2023, and then to the current value of Rs 2,200 per sq.ft in 2024, reflecting a 10% increase.

There are no recorded figures for Iyyappa Nagar 8th Cross Street in the revisions of 2002 and 2003. 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, with guideline values ranging from Rs 850 to Rs 6,700 per sq.ft. The median value is Rs 2,200 per sq.ft, which is the same as the 2024 guideline value for Iyyappa Nagar 8th Cross Street.

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

Stamp duty and registration fee for property in Iyyappa Nagar 8th 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 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Iyyappa Nagar 8th Cross Street?

The Sub Registrar Office that covers Iyyappa Nagar 8th 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 more details.

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. Buyers and sellers must be aware of this value to ensure compliance with legal requirements during the registration process.

When a property is sold, 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 in the area.

Frequently asked questions

What is the current guideline value of Iyyappa Nagar 8th Cross Street?

The current guideline value of Iyyappa Nagar 8th 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 is the land classification for Iyyappa Nagar 8th Cross Street?

Iyyappa Nagar 8th Cross Street is classified as Residential Special Type - II.

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.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 and a registration fee of Rs 44,000.