Guideline Value for Iyyappa Nagar Main Road

Iyyappa Nagar Main Road guideline value

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

How the guideline value of Iyyappa Nagar Main Road has changed

Over the years, the guideline value of Iyyappa Nagar Main Road has seen significant changes. In 2007, the guideline value was Rs 450 per sq.ft, which increased dramatically to Rs 2,000 per sq.ft in 2012, reflecting a rise of 344%. However, from 2012 to 2017, the value decreased to Rs 1,340 per sq.ft, marking a decline of 33%. The value then rose again to Rs 2,000 per sq.ft in 2023, showing a 49% increase. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, representing a 10% increase from the previous year.

It is important to note that the register does not provide figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 389%.

Guideline values in Chembakkam

In Chembakkam village, there are 472 streets under the Selaiyur SRO that have a 2024 guideline value ranging from Rs 850 to Rs 6,700 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, which is the same as the current value for Iyyappa Nagar Main Road.

• Iyyappa Nagar 9th street: Rs 2,200 per sq.ft (2024)
• Iyyappa Nagar 9th Cross Street: 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)
• Izsabella Street: Rs 850 per sq.ft (2024)

Stamp duty and registration fee for property in Iyyappa Nagar Main Road

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 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Iyyappa Nagar Main Road?

The Sub Registrar Office that covers Iyyappa Nagar Main Road 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 plays a crucial role in the property registration process in Chembakkam. When a property is bought or sold, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is recorded accurately and legally.

It is essential for buyers and sellers to be aware of the current guideline value to understand the financial implications of their property transactions. This ensures compliance with local regulations and helps in determining the costs associated with property transfer.

Frequently asked questions

What is the current guideline value of Iyyappa Nagar Main Road?

The current guideline value of Iyyappa Nagar Main Road 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 significantly 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 are the stamp duty and registration fees for properties in Iyyappa Nagar Main Road?

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 Sub Registrar Office covers Iyyappa Nagar Main Road?

The Selaiyur Sub Registrar Office covers Iyyappa Nagar Main Road, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification for Iyyappa Nagar Main Road?

The land classification for Iyyappa Nagar Main Road is Residential Special Type - II, indicating its designated use for residential purposes.