Guideline Value for Sri Iyyappa Nagar

Sri Iyyappa Nagar guideline value

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

How the guideline value of Sri Iyyappa Nagar has changed

Over the years, the guideline value of Sri Iyyappa Nagar has seen several revisions. The 2012 revision set the value at Rs 900 per sq.ft, which was then reduced to Rs 603 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 900 per sq.ft, and the latest 2024 revision raised it further to Rs 990 per sq.ft, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 10%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Manancheri

In Manancheri, there are 59 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 3,400 per sq.ft. The median value is Rs 990 per sq.ft, which is equal to the current guideline value of Sri Iyyappa Nagar.

• Sri Iswaryam 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 Iyyappa Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total cost for these fees to Rs 89,100. 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 accurate calculations based on your specific property details.

Which Sub Registrar Office covers Sri Iyyappa Nagar?

Sri Iyyappa 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 in the registration process when buying or selling property in Manancheri. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are conducted transparently and fairly.

When you register a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This means that understanding the current guideline value is essential for both buyers and sellers to accurately assess their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Sri Iyyappa Nagar?

The current guideline value of Sri Iyyappa 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 to Rs 900 per sq.ft in 2023, and finally to Rs 990 per sq.ft in 2024.

What is the median guideline value for streets in Manancheri?

The median guideline value for streets in Manancheri is Rs 990 per sq.ft, which is the same as the current value for Sri Iyyappa Nagar.

What are the stamp duty and registration fees for a property in Sri Iyyappa Nagar?

For a property valued at Rs 9,90,000, the stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, totaling Rs 89,100 for these fees.

Which Sub Registrar Office handles registrations for Sri Iyyappa Nagar?

The Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069, handles registrations for Sri Iyyappa Nagar.