Guideline Value for Sri Iyyappa Nagar

Sri Iyyappa Nagar guideline value

The current guideline value of Sri Iyyappa Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This locality is situated in Vengambakkam village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Special Type - IV.

How the guideline value of Sri Iyyappa Nagar has changed

The guideline value for Sri Iyyappa Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which was later reduced to Rs 670 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,000 per sq.ft in the 2023 revision, and it further rose to Rs 1,100 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Between the revisions, the change from 2017 to 2023 saw a notable increase of 49%. Overall, from the 2012 revision to the current 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vengambakkam

In Vengambakkam, there are 88 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 5,000 per sq.ft. The median value among these streets is Rs 770 per sq.ft, placing Sri Iyyappa Nagar's 2024 figure above that median.

• Sri Andal Nagar Part-II: Rs 1,100 per sq.ft (2024)
• Sivan Koil Street: Rs 440 per sq.ft (2024)
• Shiridi Sai Nagar/Avenue: Rs 3,300 per sq.ft (2024)
• Sangothiamman Koil Street: Rs 440 per sq.ft (2024)
• Thiruvalluvar Street: Rs 440 per sq.ft (2024)
• Thiruvengadapuram Extension: Rs 1,100 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 guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees together to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Iyyappa Nagar?

Sri Iyyappa Nagar is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

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

When a property is sold, the guideline value is considered to ensure that the transaction is registered at a fair value. This helps in maintaining transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of Sri Iyyappa Nagar?

The current guideline value of Sri Iyyappa Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Sri Iyyappa Nagar?

The land classification for Sri Iyyappa Nagar is Residential Special Type - IV.

Which Sub Registrar Office covers Sri Iyyappa Nagar?

The Tambaram Joint 1 Sub Registrar Office covers Sri Iyyappa Nagar, located at No.26, mes Road, East Tambaram, Chennai-600059.

How are stamp duty and registration fees calculated in Sri Iyyappa Nagar?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For instance, for a 1,000 sq.ft plot at the current rate, the total fees amount to Rs 99,000.