Guideline Value for Iyyasamy School Street

Iyyasamy School Street guideline value

The current guideline value of Iyyasamy School Street is Rs 2,970 per sq.ft, effective from 1 July 2024. This street is located in Hastinapuram village under the Pallavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Iyyasamy School Street has changed

Over the years, the guideline value of Iyyasamy School Street has seen several revisions. The earliest recorded value is from 2007, set at Rs 525 per sq.ft. This figure increased significantly to Rs 2,700 per sq.ft in 2012, marking a 414% rise. However, it then decreased to Rs 1,809 per sq.ft in 2017, representing a 33% decline. The value rebounded to Rs 2,700 per sq.ft in 2023, before reaching the current rate of Rs 2,970 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no recorded figures for the years 2002 and 2003 for Iyyasamy School Street. The overall change from 2007 to 2024 shows an increase of 466%, reflecting the dynamic adjustments in the guideline values over the years.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median value for these streets is Rs 2,970 per sq.ft, which is the same as the current guideline value for Iyyasamy School Street. Below are other streets in Hastinapuram:

• Iyyasamy Street: Rs 4,400 per sq.ft (2024)
• Iyra Aaranya: Rs 2,970 per sq.ft (2024)
• Jain Nagar: Rs 2,970 per sq.ft (2024)
• Jain Nagar 1st Main Road: Rs 2,970 per sq.ft (2024)
• Jain Nagar 2nd Main Road: Rs 2,970 per sq.ft (2024)
• Jain Nagar 3rd Main Road: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in Iyyasamy School Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,970 per sq.ft, the total guideline value amounts to Rs 29,70,000. The stamp duty at 7% would be Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, bringing the total cost for these fees to Rs 2,67,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Iyyasamy School Street?

The Iyyasamy School Street falls under the jurisdiction of the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Hastinapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in property dealings.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values for different areas.

Frequently asked questions

What is the current guideline value of Iyyasamy School Street?

The current guideline value of Iyyasamy School Street is Rs 2,970 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 525 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, reflecting an overall increase of 466% over the years.

What is the land classification for Iyyasamy School Street?

Iyyasamy School Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Iyyasamy School Street?

The Sub Registrar Office covering Iyyasamy School Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value results in total fees of Rs 2,67,300.