Guideline Value for Iyyappan Street

Iyyappan Street guideline value

The current guideline value of Iyyappan Street, located in Selaiyur village under the Selaiyur SRO, is Rs 2,400 per sq.ft, effective from 1 July 2024. This street falls under the Residential Special Type - II land classification.

How the guideline value of Iyyappan Street has changed

Over the years, the guideline value of Iyyappan Street has seen several revisions. The 2007 revision recorded a value of Rs 450 per sq.ft, which increased significantly to Rs 2,200 per sq.ft in 2012, marking a rise of 389%. However, the value then dropped by 33% to Rs 1,474 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 2,200 per sq.ft, and the most recent 2024 revision has set the current value at Rs 2,400 per sq.ft, reflecting a 9% increase from the previous year.

It is important to note that the register has no figures for Iyyappan Street for the years 2002 and 2003. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 433%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 6,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Iyyappan Street's 2024 value above this median.

• Jagageevanram Colony: Rs 2,200 per sq.ft (2024)
• Jagageevanram Street: Rs 2,200 per sq.ft (2024)
• Jagajeevanram Nagar: Rs 2,200 per sq.ft (2024)
• Jain Avenue: Rs 2,400 per sq.ft (2024)
• IOB Colony 4th Main Road: Rs 3,500 per sq.ft (2024)
• IOB Colony 3rd Main Road: Rs 3,500 per sq.ft (2024)

Stamp duty and registration fee for property in Iyyappan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total cost for these fees to Rs 2,16,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Iyyappan Street?

The Sub Registrar Office that covers Iyyappan 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 details.

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

The guideline value is a crucial factor when buying or selling property in Selaiyur. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers must be aware that the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction.

When a property is sold, the buyer and seller must ensure that the sale price is at least equal to the guideline value to avoid any legal complications during registration. This ensures that the transaction is transparent and that the government receives the appropriate taxes from the sale.

Frequently asked questions

What is the current guideline value of Iyyappan Street?

The current guideline value of Iyyappan Street is Rs 2,400 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 2,400 per sq.ft in 2024, marking an overall increase of 433% over this period.

What is the median guideline value in Selaiyur?

The median guideline value for the 478 streets in Selaiyur is Rs 2,200 per sq.ft, with Iyyappan Street's value being above this median.

What are the stamp duty and registration fees for Iyyappan Street?

For a property valued at Rs 24,00,000, the stamp duty is Rs 1,68,000 and the registration fee is Rs 48,000, totaling Rs 2,16,000 for these fees.

Where is the Sub Registrar Office for Iyyappan Street located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.