Guideline Value for Iyyappa Nagar 9th Cross Street

Iyyappa Nagar 9th Cross Street guideline value

The current guideline value of Iyyappa Nagar 9th 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 it is classified as Residential Special Type - II.

How the guideline value of Iyyappa Nagar 9th Cross Street has changed

Over the years, the guideline value of Iyyappa Nagar 9th Cross Street has seen several revisions. The 2007 revision set the value at Rs 450 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, there was a decrease to Rs 1,340 per sq.ft in 2017. The 2023 revision raised it to Rs 2,000 per sq.ft, and the most recent 2024 revision has increased it further to Rs 2,200 per sq.ft, marking a 10% rise from the previous year.

From 2017 to 2023, the value increased by 49%, while the change from 2012 to 2017 was a decrease of 33%. The remarkable increase from 2007 to 2012 was 344%. 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 with a 2024 guideline value ranging 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 guideline value of Iyyappa Nagar 9th Cross Street.

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

For a 1,000 sq.ft plot at the current guideline value of 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, totaling Rs 1,98,000. Please note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Iyyappa Nagar 9th Cross Street?

The Sub Registrar Office that covers Iyyappa Nagar 9th 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 information.

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

The guideline value is an essential factor in property transactions in Chembakkam. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration norms.

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.

Frequently asked questions

What is the current guideline value of Iyyappa Nagar 9th Cross Street?

The current guideline value of Iyyappa Nagar 9th 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 an overall increase of 389% over the years.

What is the land classification for Iyyappa Nagar 9th Cross Street?

Iyyappa Nagar 9th Cross Street is classified as Residential Special Type - II.

What are the stamp duty and registration fees for properties in this area?

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, totaling Rs 1,98,000.

Which office handles the registration for Iyyappa Nagar 9th Cross Street?

The Selaiyur Sub Registrar Office handles the registration for Iyyappa Nagar 9th Cross Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai.