Guideline Value for SRI IYYAPPAN NAGAR

Sri Iyyappan Nagar guideline value

The current guideline value of Sri Iyyappan Nagar, located in Thandalam village under the Madurandakam SRO, is Rs 200 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Type - I.

How the guideline value of Sri Iyyappan Nagar has changed

Over the years, the guideline value for Sri Iyyappan Nagar has seen several revisions. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 134 per sq.ft. Following that, the value increased significantly to Rs 200 per sq.ft in the 2023 revision, maintaining the same figure in the 2024 revision, resulting in a change of +49% from 2017 to 2023.

Notably, the register does not contain figures for the years 2002, 2003, and 2007 for this street. Overall, comparing the 2012 revision to the 2024 revision, there has been no change, with the guideline value remaining at Rs 200 per sq.ft.

Guideline values in Thandalam

In Thandalam village, there are nine streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 101 to Rs 200 per sq.ft. The median value for these streets is Rs 104 per sq.ft, placing the 2024 guideline value of Sri Iyyappan Nagar above this median.

• Sivakalai Nagar Phase-I: Rs 101 per sq.ft (2024)
• Selva Vinayagar Nagar: Rs 101 per sq.ft (2024)
• Sekar Avenue Phase-II: Rs 101 per sq.ft (2024)
• J P Avenue: Rs 200 per sq.ft (2024)
• Cs Gateway: Rs 104 per sq.ft (2024)
• Bharatham Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Iyyappan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total fees together to Rs 18,000. It is important to note that 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 Sri Iyyappan Nagar?

The Sub Registrar Office that covers Sri Iyyappan Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Thandalam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state collects appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is considered alongside the sale price, with the higher of the two being used to calculate the applicable fees. This ensures that both buyers and sellers are aware of the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Sri Iyyappan Nagar?

The current guideline value of Sri Iyyappan Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent revision in 2024 maintaining the value at Rs 200 per sq.ft. Notably, there was a significant increase of 49% from 2017 to 2023.

What is the land classification for Sri Iyyappan Nagar?

The land classification for Sri Iyyappan Nagar is Mixed Type - I, indicating a diverse range of land uses within the area.

What are the stamp duty and registration fees for property in Sri Iyyappan Nagar?

For a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000 and the registration fee would be Rs 4,000, totaling Rs 18,000 in fees.

Which office is responsible for property registration in Sri Iyyappan Nagar?

The Madurandakam Sub Registrar Office is responsible for property registration in Sri Iyyappan Nagar, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.