Guideline Value for Sri Iswaryam Nagar

Sri Iswaryam Nagar guideline value

The current guideline value of Sri Iswaryam Nagar is Rs 990 per sq.ft, effective from 1 July 2024. This street is located in Manancheri village under the Kunrathur SRO, classified as Residential Class I Type - I.

How the guideline value of Sri Iswaryam Nagar has changed

The guideline value for Sri Iswaryam Nagar has seen several revisions over the years. The earliest recorded revision is from 2012, which set the value at Rs 900 per sq.ft. This was followed by a decrease to Rs 603 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49% to reach Rs 900 per sq.ft. The most recent revision in 2024 raised the guideline value to Rs 990 per sq.ft, reflecting a 10% increase from the previous year.

There are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Manancheri

In Manancheri, there are 59 streets under the Kunrathur SRO with a guideline value for 2024 ranging from Rs 550 to Rs 3,400 per sq.ft. The median value is Rs 990 per sq.ft, which is the same as the guideline value for Sri Iswaryam Nagar.

• Sri Iyyappa Nagar: Rs 990 per sq.ft (2024)
• Sri Guruvayurappan Nagar Extension: Rs 990 per sq.ft (2024)
• Sri Kutty Vinayagar Nagar Extension: Rs 1,320 per sq.ft (2024)
• Sri Devaki Nagar: Rs 2,150 per sq.ft (2024)
• Srimathi Neelambal Nagar: Rs 990 per sq.ft (2024)
• Sri Vidhyalakshmi Avenue: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Iswaryam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, while the registration fee at 2% would be Rs 19,800. Together, the total cost for stamp duty and registration fee would be Rs 89,100. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Iswaryam Nagar?

Sri Iswaryam Nagar falls under the jurisdiction of the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Manancheri. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When you register a property, the guideline value is used to calculate the stamp duty, which is charged on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Iswaryam Nagar?

The current guideline value of Sri Iswaryam Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then increased to Rs 900 per sq.ft in 2023, and finally to Rs 990 per sq.ft in 2024.

What is the land classification of Sri Iswaryam Nagar?

Sri Iswaryam Nagar is classified as Residential Class I Type - I under the Kunrathur SRO.

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

The registration office for Sri Iswaryam Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated in Sri Iswaryam Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 9,90,000, the stamp duty would be Rs 69,300 at a rate of 7%.