Guideline Value for Iyyasamy Street

Iyyasamy Street guideline value

The current guideline value of Iyyasamy Street in Hastinapuram village is Rs 4,400 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram Sub Registrar Office and is classified as Mixed Type - I land.

How the guideline value of Iyyasamy Street has changed

The guideline value for Iyyasamy Street has undergone several revisions over the years. In the 2007 revision, the value was Rs 1,462 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in the 2012 revision, marking a rise of 174%. However, the value then decreased to Rs 2,680 per sq.ft in the 2017 revision, reflecting a drop of 33%. By the 2023 revision, the value rose again to Rs 4,000 per sq.ft, and currently, as of the 2024 revision, it stands at Rs 4,400 per sq.ft, showing a 10% increase from the previous year.

There are no recorded figures for Iyyasamy Street in the 2002 and 2003 revisions. Overall, from 2007 to 2024, the guideline value has increased by 201%, highlighting the significant changes in property valuation 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, with a median value of Rs 2,970 per sq.ft. Iyyasamy Street's 2024 figure of Rs 4,400 per sq.ft is above this median.

• Iyyasamy School Street: Rs 2,970 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty, calculated at 7%, amounts to Rs 3,08,000, while the registration fee at 2% totals Rs 88,000. Together, the total cost for stamp duty and registration fee would be Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details on fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Iyyasamy Street?

The Sub Registrar Office that covers Iyyasamy Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, within the 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 when buying or selling property in Hastinapuram. It is used to determine the stamp duty and registration fees applicable to the transaction. Buyers must be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

Understanding the guideline value is essential for both buyers and sellers, as it affects the overall cost of property transactions. It is advisable to check the latest guideline values before engaging in any property dealings to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Iyyasamy Street?

The current guideline value of Iyyasamy Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 1,462 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 201% over this period.

What are the other streets in Hastinapuram with their guideline values?

Other streets in Hastinapuram include Iyyasamy School Street, Iyra Aaranya, Jain Nagar, Jain Nagar 1st Main Road, Jain Nagar 2nd Main Road, and Jain Nagar 3rd Main Road, all with a guideline value of Rs 2,970 per sq.ft as of 2024.

What is the stamp duty on property in Iyyasamy Street?

The stamp duty on property in Iyyasamy Street is calculated at 7% of the guideline value or sale price, whichever is higher. For a plot valued at Rs 44,00,000, the stamp duty would amount to Rs 3,08,000.

Where is the Sub Registrar Office for Iyyasamy Street located?

The Sub Registrar Office for Iyyasamy Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044. This office falls under the Chengalpattu registration zone.