Guideline Value for Sri Ishwaryam Nagar

Sri Ishwaryam Nagar guideline value

The current guideline value of Sri Ishwaryam Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Varadarajapuram village under the Padappai SRO, classified as Residential Class I Type - I.

How the guideline value of Sri Ishwaryam Nagar has changed

The guideline value for Sri Ishwaryam Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,200 per sq.ft, and the most recent 2024 revision has set it at Rs 1,320 per sq.ft. There are no figures available for the years 2002, 2003, and 2007 for this street.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%. The overall change from the 2012 revision to the 2024 revision shows a 10% increase in the guideline value.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, placing Sri Ishwaryam Nagar's 2024 figure below this median.

• Sri Krishna Avenue: Rs 1,650 per sq.ft (2024)
• Sri Devi Karumari Nagar: Rs 1,980 per sq.ft (2024)
• Sri Bhuvaneswari Nagar: Rs 1,980 per sq.ft (2024)
• Sri Balaji Nagar @ Mirudhula Homes: Rs 1,980 per sq.ft (2024)
• Sri Balaji Nagar‍ ‍‍- 56/1a: Rs 2,300 per sq.ft (2024)
• Sri Moogambigai Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ishwaryam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, together totaling Rs 1,18,800. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Ishwaryam Nagar?

The Sub Registrar Office that covers Sri Ishwaryam Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Varadarajapuram. It serves as the benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the higher amount between the guideline value and the sale price is considered for calculating the applicable duties and fees. This ensures that the state receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Ishwaryam Nagar?

The current guideline value of Sri Ishwaryam Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent increase from Rs 1,200 per sq.ft in 2023 to Rs 1,320 per sq.ft in 2024. The value was Rs 804 per sq.ft in 2017 and Rs 1,200 per sq.ft in 2012.

What is the land classification of Sri Ishwaryam Nagar?

Sri Ishwaryam Nagar is classified as Residential Class I Type - I. This classification indicates the type of development and usage permitted in the area.

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

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

How is stamp duty calculated in Sri Ishwaryam Nagar?

Stamp duty is calculated based on the higher amount between the guideline value and the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the total guideline value would be Rs 13,20,000.