Guideline Value for Iyyappa Nagar

Iyyappa Nagar guideline value

The current guideline value of Iyyappa Nagar, located in Sekkadu village under the Avadi SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Iyyappa Nagar has changed

Over the years, the guideline value of Iyyappa Nagar has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in 2017. Following this, the 2023 revision increased the value to Rs 1,200 per sq.ft, and the most recent 2024 revision has raised it to 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.

The changes between the revisions indicate a significant increase from 2017 to 2023 of 49%, followed by a 10% increase from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Sekkadu

In Sekkadu village, there are 56 streets under the Avadi SRO with 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 equal to the guideline value of Iyyappa Nagar.

• Iyyappa Nagar Extension: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees to Rs 1,18,800. 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?

The Iyyappa Nagar area 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 plays a crucial role during property transactions in Sekkadu, as it is used to determine the stamp duty and registration fees. Buyers and sellers must consider this value when finalizing the sale price, as the fees are calculated based on the higher of the guideline value or the sale price.

When registering a property, it is essential to ensure that the guideline value is accurately reflected in the transaction documents. This ensures compliance with local regulations and helps avoid any legal issues during the transfer of ownership.

Frequently asked questions

What is the current guideline value of Iyyappa Nagar?

The current guideline value of Iyyappa Nagar 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 to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification of Iyyappa Nagar?

Iyyappa Nagar is classified as Residential Class II Type - I under the local land classification system.

What are the stamp duty and registration fees for Iyyappa Nagar?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400, and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Which office handles property registrations for Iyyappa Nagar?

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