Guideline Value for Sri Iyappa Nagar

Sri Iyappa Nagar guideline value

The current guideline value of Sri Iyappa Nagar, located in Thandalam village under the Sriperumpudur SRO, is Rs 200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class IV Type - I.

How the guideline value of Sri Iyappa Nagar has changed

Over the years, the guideline value for Sri Iyappa Nagar has seen several revisions. The earliest recorded value is from 2007, which was Rs 30 per sq.ft. This value increased significantly to Rs 200 per sq.ft in 2012, marking a rise of 567%. However, the value dropped to Rs 134 per sq.ft in 2017, a decrease of 33%. The 2023 revision saw no change from the previous year, maintaining the value at Rs 200 per sq.ft. As of the 2024 revision, the guideline value remains at Rs 200 per sq.ft, showing no percentage change from 2023.

The revisions for the years 2002 and 2003 do not have any figures recorded for this street. The overall change from the 2007 revision to the 2024 revision reflects an increase of 567%.

Guideline values in Thandalam

In Thandalam, there are 36 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 1,800 per sq.ft. The median value for these streets is Rs 400 per sq.ft, placing Sri Iyappa Nagar's 2024 figure below this median.

• Sipcot Industrial Park: Rs 800 per sq.ft (2024)
• Subasree Nagar: Rs 300 per sq.ft (2024)
• Telophone Exchange Street: Rs 400 per sq.ft (2024)
• Theruveedhiyamman Koil Street: Rs 505 per sq.ft (2024)
• Sakthi Enclave: Rs 800 per sq.ft (2024)
• Regency Park: Rs 505 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Iyappa Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total cost for these fees to Rs 18,000. 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 precise calculations based on your specific property details.

Which Sub Registrar Office covers Sri Iyappa Nagar?

The Sub Registrar Office that covers Sri Iyappa Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thandalam. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on a standardized value set by the government.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Sri Iyappa Nagar?

The current guideline value of Sri Iyappa 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 significant increase occurring from Rs 30 per sq.ft in 2007 to Rs 200 per sq.ft in 2012. The value has remained at Rs 200 per sq.ft since 2012, with no change from 2023 to 2024.

What is the classification of land in Sri Iyappa Nagar?

Sri Iyappa Nagar is classified as Residential Class IV Type - I, indicating its use for residential purposes.

What are the stamp duty rates for properties in Sri Iyappa Nagar?

The stamp duty rate for properties in Sri Iyappa Nagar is 7% of the guideline value or sale price, whichever is higher. The registration fee is 2% of the guideline value.

Where is the Sub Registrar Office for Sri Iyappa Nagar located?

The Sub Registrar Office for Sri Iyappa Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.