Guideline Value for Sri Iyyanar Nagar

Sri Iyyanar Nagar guideline value

The current guideline value of Sri Iyyanar Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Neelamangalam village and falls under the Gooduvancheri SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Sri Iyyanar Nagar has changed

The guideline value for Sri Iyyanar Nagar has seen several revisions over the years. The 2007 revision set the value at Rs 90 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2012. However, there was a decrease to Rs 335 per sq.ft in 2017. The 2023 revision maintained the value at Rs 500 per sq.ft, and the upcoming 2024 revision also keeps it at Rs 500 per sq.ft, indicating no change from the previous year.

Overall, from the 2007 revision to the 2024 revision, there has been a substantial increase of 456%. Notably, the register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Neelamangalam

In Neelamangalam, there are 41 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,000 per sq.ft, with a median value of Rs 600 per sq.ft. Sri Iyyanar Nagar's current value is below this median.

• Sri Ganapathi Nagar Colony: Rs 500 per sq.ft (2024)
• SRI Mayil vaganam Nagar: Rs 500 per sq.ft (2024)
• Sri Muppathamman Nagar: Rs 600 per sq.ft (2024)
• Sri Balaji Avenue (II & III): Rs 600 per sq.ft (2024)
• Sri Neelagandeswarar Nagar: Rs 1,200 per sq.ft (2024)
• Soundarapandian Nagar Extn: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Iyyanar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, while the registration fee at 2% would be Rs 10,000, bringing the total to Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Iyyanar Nagar?

The Sub Registrar Office that covers Sri Iyyanar Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

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

When a property is registered, the guideline value is assessed to ensure that the transaction aligns with the official rates set forth by the government. This helps to standardize property transactions and ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Sri Iyyanar Nagar?

The current guideline value of Sri Iyyanar Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 90 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, decreased to Rs 335 per sq.ft in 2017, and remained at Rs 500 per sq.ft in both 2023 and 2024.

What are the other streets with guideline values in Neelamangalam?

Other streets in Neelamangalam include Sri Ganapathi Nagar Colony, SRI Mayil vaganam Nagar, Sri Muppathamman Nagar, Sri Balaji Avenue (II & III), Sri Neelagandeswarar Nagar, and Soundarapandian Nagar Extn, each with their respective guideline values for 2024.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in Sri Iyyanar Nagar is 7% of the guideline value or sale price, whichever is higher.

Which office handles property registrations in Sri Iyyanar Nagar?

The Gooduvancheri Sub Registrar Office handles property registrations for Sri Iyyanar Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.