Guideline Value for Sri Iyyappan Nagar

Sri Iyyappan Nagar guideline value

The current guideline value of Sri Iyyappan Nagar is Rs 1,480 per sq.ft, effective from 1 July 2024. This area is located in the village of Mangadu -A under the Kunrathur SRO, classified as Residential Class I Type - IV.

How the guideline value of Sri Iyyappan Nagar has changed

In the 2017 revision, the guideline value was Rs 1,340 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 1,340 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 1,480 per sq.ft, reflecting a 10% rise from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Mangadu -A

In Mangadu -A, there are 208 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,870 per sq.ft, placing Sri Iyyappan Nagar's 2024 figure below that median.

• Sri Kali Amman Nagar Extension: Rs 1,980 per sq.ft (2024)
• Sri Guru Avenue: Rs 2,350 per sq.ft (2024)
• Sri Kamatchi Amman Nagar Annexe: Rs 2,200 per sq.ft (2024)
• Sri Kamatchi Amman Nagar Annexe II: Rs 2,200 per sq.ft (2024)
• Sri Kamatchi Avenue: Rs 2,200 per sq.ft (2024)
• Sri Krishna Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Iyyappan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,480 per sq.ft, the total guideline value would be Rs 14,80,000. The stamp duty at 7% would amount to Rs 1,03,600, and the registration fee at 2% would be Rs 29,600, bringing the total to Rs 1,33,200. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Iyyappan Nagar?

The Sub Registrar Office covering Sri Iyyappan Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mangadu -A

The guideline value is crucial during property transactions in Mangadu -A, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with the legal requirements during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Iyyappan Nagar?

The current guideline value of Sri Iyyappan Nagar is Rs 1,480 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,340 per sq.ft in 2017 to Rs 1,340 per sq.ft in 2023, and then increased to Rs 1,480 per sq.ft in 2024, marking a 10% rise from the previous year.

What are the other streets in Mangadu -A?

Other streets in Mangadu -A include Sri Kali Amman Nagar Extension, Sri Guru Avenue, Sri Kamatchi Amman Nagar Annexe, Sri Kamatchi Amman Nagar Annexe II, Sri Kamatchi Avenue, and Sri Krishna Nagar, each with their respective guideline values for 2024.

What is the registration fee for properties in Sri Iyyappan Nagar?

The registration fee for properties in Sri Iyyappan Nagar is calculated at 2% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 14,80,000 would incur a registration fee of Rs 29,600.

Which office handles the registration for Sri Iyyappan Nagar?

The Kunrathur Sub Registrar Office is responsible for handling registrations for properties in Sri Iyyappan Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.