Guideline Value for SRI IYYAPPA NAGAR

Sri Iyyappa Nagar guideline value

The current guideline value of Sri Iyyappa Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Thirukkachur - 1 village under the Chengleput Joint II SRO and is classified as Residential Class I Type - II.

How the guideline value of Sri Iyyappa Nagar has changed

The guideline value for Sri Iyyappa Nagar has undergone several revisions over the years. In 2012, the guideline value was set at Rs 500 per sq.ft, which remained unchanged until the next revision in 2017 when it decreased to Rs 335 per sq.ft. Following this, the value increased significantly to Rs 500 per sq.ft in 2023, and then to Rs 550 per sq.ft in 2024, marking a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, the value saw a decrease of 33%, but from 2017 to 2023, it increased by 49%. Overall, comparing the values from 2012 to 2024, there has been a 10% increase, reflecting the changes in the guideline value over the years.

Guideline values in Thirukkachur - 1

In Thirukkachur - 1, there are 86 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 385 to Rs 3,300 per sq.ft, with a median value of Rs 660 per sq.ft. The guideline value for Sri Iyyappa Nagar is below this median.

• Srinivasa Nagar Part-1: Rs 660 per sq.ft (2024)
• Srinivasa Nagar Part-3: Rs 660 per sq.ft (2024)
• Srinivasa Nagar Part - IV: Rs 660 per sq.ft (2024)
• South Mada Veedhi: Rs 550 per sq.ft (2024)
• Sasthri Street: Rs 550 per sq.ft (2024)
• Sardhar Petel Nagar: Rs 1,645 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Iyyappa Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty is charged at 7%, which would be Rs 38,500, and the registration fee at 2% amounts to Rs 11,000. Together, the total cost for these fees would be Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sri Iyyappa Nagar?

Sri Iyyappa Nagar falls under the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Thirukkachur - 1

The guideline value is a crucial factor in the registration process when buying or selling property in Thirukkachur - 1. It serves as the basis for calculating the stamp duty and registration fees, which are mandatory during property transactions.

When a property is registered, the guideline value helps ensure that the transaction is recorded accurately and reflects the official valuation set by the authorities. This process helps maintain transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Sri Iyyappa Nagar?

The current guideline value of Sri Iyyappa Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase being from Rs 500 per sq.ft in 2023 to Rs 550 per sq.ft in 2024. The value saw a decrease from Rs 500 in 2012 to Rs 335 in 2017 before rising again in subsequent years.

What are the stamp duty and registration fees in Sri Iyyappa Nagar?

For a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500, and the registration fee would be Rs 11,000, totaling Rs 49,500. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations in Sri Iyyappa Nagar?

The Chengleput Joint II Sub Registrar Office handles property registrations for Sri Iyyappa Nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the land classification of Sri Iyyappa Nagar?

Sri Iyyappa Nagar is classified as Residential Class I Type - II, indicating its suitability for residential development.