Guideline Value for Iyyappa Nagar Extension

Iyyappa Nagar Extension guideline value

The current guideline value of Iyyappa Nagar Extension in Sekkadu village is Rs 1,320 per sq.ft, effective from 1 July 2024. This property falls under the Avadi Sub Registrar Office (SRO) and is classified as Residential Class II Type - I.

How the guideline value of Iyyappa Nagar Extension has changed

The guideline value for Iyyappa Nagar Extension has undergone several revisions over the years. In 2012, the guideline value was Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in 2017. The 2023 revision saw an increase to Rs 1,200 per sq.ft, and the most recent 2024 revision set the value at Rs 1,320 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The guideline value then rose by 10% from 2023 to 2024, resulting in an overall increase of 10% from 2012 to 2024.

Guideline values in Sekkadu

In Sekkadu, there are 56 streets under the Avadi SRO that have a 2024 guideline value ranging from Rs 930 to Rs 4,800 per sq.ft. The median value is Rs 1,320 per sq.ft, which is the same as the guideline value for Iyyappa Nagar Extension. Below are the guideline values for other streets in Sekkadu:

• Iyyappa Nagar: Rs 1,320 per sq.ft (2024)
• Gopalapuram: Rs 2,050 per sq.ft (2024)
• Kamarajar Street: Rs 1,075 per sq.ft (2024)
• Eswaran Nagar: Rs 1,075 per sq.ft (2024)
• Kariyappa Nagar: Rs 1,075 per sq.ft (2024)
• Karthik Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Iyyappa Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Iyyappa Nagar Extension?

The Iyyappa Nagar Extension is covered by the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Sekkadu. It determines the minimum value at which the property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property is sold, the guideline value serves as a benchmark for calculating taxes and fees. Buyers should be aware that the guideline value may differ from the actual sale price, but the duty is calculated based on the higher of the two amounts.

Frequently asked questions

What is the current guideline value of Iyyappa Nagar Extension?

The current guideline value of Iyyappa Nagar Extension is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the stamp duty for property in Iyyappa Nagar Extension?

The stamp duty for property in Iyyappa Nagar Extension is 7% of the guideline value or sale price, whichever is higher. For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400.

Which office handles property registrations in Iyyappa Nagar Extension?

The Avadi Sub Registrar Office handles property registrations for Iyyappa Nagar Extension, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District.

What is the land classification for Iyyappa Nagar Extension?

Iyyappa Nagar Extension is classified as Residential Class II Type - I, which indicates its suitability for residential development.