Guideline Value for Iyyappa Nagar 9th street

Iyyappa Nagar 9th street guideline value

The current guideline value of Iyyappa Nagar 9th street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village under the Selaiyur SRO, classified as Residential Special Type - II.

How the guideline value of Iyyappa Nagar 9th street has changed

The guideline value for Iyyappa Nagar 9th street has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was a decrease of 33% from the previous revision in 2017, where the value was Rs 1,340 per sq.ft. The guideline value remained at Rs 2,000 per sq.ft until the 2023 revision, which increased it to Rs 2,000 per sq.ft, and then further to Rs 2,200 per sq.ft in 2024, marking a 10% increase.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 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 value is Rs 2,200 per sq.ft, which is the same as the guideline value for Iyyappa Nagar 9th street.

• Iyyappa Nagar 9th Cross Street: Rs 2,200 per sq.ft (2024)
• Iyyappa Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Iyyappa Nagar 8th street: Rs 2,200 per sq.ft (2024)
• Iyyappa Nagar 8th Cross Street: 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 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, totaling Rs 1,98,000. Please note that the 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 further calculations.

Which Sub Registrar Office covers Iyyappa Nagar 9th street?

The Iyyappa Nagar 9th street falls under 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 a crucial factor in property transactions in Chembakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with local regulations.

When registering a property, 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 street?

The current guideline value of Iyyappa Nagar 9th 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 2023 to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase. It was Rs 1,340 per sq.ft in 2017, which increased by 49% to Rs 2,000 per sq.ft in 2023.

What is the land classification for Iyyappa Nagar 9th street?

Iyyappa Nagar 9th street is classified as Residential Special Type - II, indicating its use for residential purposes.

What are the stamp duty rates for properties in Iyyappa Nagar 9th street?

The stamp duty rate for properties in Iyyappa Nagar 9th street is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

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.