Guideline Value for Sri Ishwaryam Garden

Sri Ishwaryam Garden guideline value

The current guideline value of Sri Ishwaryam Garden is Rs 1,760 per sq.ft, effective from 1 July 2024. This property is located in Mudichur village, under the Padappai SRO, and is classified as Residential Class I Type - I.

How the guideline value of Sri Ishwaryam Garden has changed

Over the years, the guideline value of Sri Ishwaryam Garden has seen several revisions. The 2012 revision set the value at Rs 1,600 per sq.ft, which was then reduced to Rs 1,072 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,600 per sq.ft, and the most recent 2024 revision raised it further to Rs 1,760 per sq.ft.

In terms of percentage changes, the guideline value increased by 10% from 2023 to 2024. From 2017 to 2023, it saw a significant increase of 49%. However, there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Mudichur

Mudichur village has a total of 135 streets under the Padappai SRO, with guideline values ranging from Rs 880 to Rs 4,000 per sq.ft as per the 2024 revision. The median guideline value in Mudichur is Rs 2,200 per sq.ft, making the current value of Sri Ishwaryam Garden below this median.

• Sri Durga Avenue: Rs 1,210 per sq.ft (2024)
• Srinivasa Nagar: Rs 3,630 per sq.ft (2024)
• Sree Balaji Nagar: Rs 2,200 per sq.ft (2024)
• Sriranga Nagar: Rs 2,200 per sq.ft (2024)
• S.K.Avenue: Rs 2,200 per sq.ft (2024)
• Sri Ranganayaki Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ishwaryam Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value amounts to Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, bringing the total fees together to Rs 1,58,400. 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 precise calculations.

Which Sub Registrar Office covers Sri Ishwaryam Garden?

The Sub Registrar Office that covers Sri Ishwaryam Garden is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. To find your specific SRO, you can find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Mudichur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling a property, the guideline value is compared to the sale price. The higher of the two values is used to calculate the stamp duty and registration fees, ensuring that all transactions are fairly assessed according to the established guidelines.

Frequently asked questions

What is the current guideline value of Sri Ishwaryam Garden?

The current guideline value of Sri Ishwaryam Garden is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, then increased to Rs 1,600 per sq.ft in 2023 and finally to Rs 1,760 per sq.ft in 2024.

What is the land classification of Sri Ishwaryam Garden?

Sri Ishwaryam Garden is classified as Residential Class I Type - I.

Where can I find the registration office for Sri Ishwaryam Garden?

The registration office for Sri Ishwaryam Garden is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for properties in Mudichur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 17,60,000 would incur a stamp duty of Rs 1,23,200 at a rate of 7%.