Guideline Value for Iyyappa Nagar 8th street

Iyyappa Nagar 8th street guideline value

The current guideline value of Iyyappa Nagar 8th street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village, under the Selaiyur SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Iyyappa Nagar 8th street has changed

The guideline value for Iyyappa Nagar 8th 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 2023, 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.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The overall change from the 2012 revision to the current 2024 revision reflects a modest increase of 10%.

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 for these streets is Rs 2,200 per sq.ft, which aligns with the current value of Iyyappa Nagar 8th street.

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

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

Which Sub Registrar Office covers Iyyappa Nagar 8th street?

The Iyyappa Nagar 8th street falls under the jurisdiction of 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 plays a crucial role during the registration of property transactions in Chembakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in property dealings.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legal documentation. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

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

The current guideline value of Iyyappa Nagar 8th 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 currently stands at Rs 2,200 per sq.ft in 2024.

What is the land classification for Iyyappa Nagar 8th street?

The land classification for Iyyappa Nagar 8th street is 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 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, 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.