Guideline Value for Sri Iyyappa Nagar

Sri Iyyappa Nagar guideline value

The current guideline value of Sri Iyyappa Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Atanancheri village and falls under the Gooduvancheri SRO, classified as Residential Class I Type - I.

How the guideline value of Sri Iyyappa Nagar has changed

Over the years, the guideline value for Sri Iyyappa Nagar has seen several revisions. The 2007 revision set the value at Rs 160 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2012. However, it dropped to Rs 335 per sq.ft in 2017 before stabilizing at Rs 500 per sq.ft in both 2023 and 2024. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, the value increased by 49%. The substantial rise from 2007 to 2012 was 213%, but this was followed by a decrease of 33% from 2012 to 2017. Overall, from 2007 to 2024, the guideline value has increased by 213%.

Guideline values in Atanancheri

In Atanancheri, there are 83 streets under the Gooduvancheri SRO, with the 2024 guideline values ranging from Rs 400 to Rs 2,500 per sq.ft. The median guideline value for these streets is Rs 700 per sq.ft, making Sri Iyyappa Nagar's 2024 figure below that median.

• Sri Kamatchi Nagar: Rs 700 per sq.ft (2024)
• Sri Ganesh Nagar: Rs 700 per sq.ft (2024)
• Sri Ganapathi Nagar Colony: Rs 800 per sq.ft (2024)
• Sri Ganapathi Nagar: Rs 800 per sq.ft (2024)
• Sri Lakshmi Bala Nagar: Rs 600 per sq.ft (2024)
• Sri Drowpathi Amman Nagar: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Iyyappa Nagar

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, totaling Rs 45,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Iyyappa Nagar?

The Sub Registrar Office covering Sri Iyyappa Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. To find your SRO, visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Atanancheri. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property in the area.

When registering a property, the buyer must ensure that the sale price meets or exceeds the guideline value, as the stamp duty is calculated based on the higher of the two figures. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Iyyappa Nagar?

The current guideline value of Sri Iyyappa 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 seen various changes, with the most recent being Rs 500 per sq.ft in both 2023 and 2024, after a rise from Rs 335 per sq.ft in 2017.

What are the other streets in Atanancheri and their guideline values?

Other streets in Atanancheri include Sri Kamatchi Nagar and Sri Ganesh Nagar, both valued at Rs 700 per sq.ft, and Sri Ganapathi Nagar Colony and Sri Ganapathi Nagar, both at Rs 800 per sq.ft.

How is stamp duty calculated for properties in Sri Iyyappa Nagar?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher. For example, a property valued at Rs 5,00,000 would incur a stamp duty of Rs 35,000.

Where can I find the Sub Registrar Office for Sri Iyyappa Nagar?

The Gooduvancheri Sub Registrar Office covers Sri Iyyappa Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.