Guideline Value for INDARA NAGER NEW COLONY

Indara Nager New Colony guideline value

The current guideline value of Indara Nager New Colony is Rs 750 per sq.ft. This area is located in Walajabad village, under the Walajabad SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Indara Nager New Colony has changed

Over the years, the guideline value for Indara Nager New Colony has seen several revisions. In 2007, the value was Rs 60 per sq.ft, which increased significantly to Rs 750 per sq.ft in 2012. However, the value then dropped to Rs 502 per sq.ft in 2017, before stabilizing at Rs 750 per sq.ft in both the 2023 and 2024 revisions. Notably, the register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value rose by 49%, but there was no change from 2023 to 2024. The overall increase from the 2007 revision to the 2024 revision is a remarkable 1150%, highlighting the significant changes in the guideline value over the years.

Guideline values in Walajabad

In Walajabad, a total of 196 streets are listed under the Walajabad SRO, with guideline values ranging from Rs 400 to Rs 2,000 per sq.ft. The median guideline value for these streets is Rs 750 per sq.ft, which is equal to the current guideline value of Indara Nager New Colony.

• INDIRA NAGAR-1st -ST: Rs 750 per sq.ft (2024)
• INDIRA NAGAR-2st -ST: Rs 750 per sq.ft (2024)
• INDIRA NAGAR-3st -ST: Rs 750 per sq.ft (2024)
• Indira Nagar-Cross St: Rs 750 per sq.ft (2024)
• Javulikadai Street: Rs 750 per sq.ft (2024)
• Gopal Naidu Street: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Indara Nager New Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 750 per sq.ft, the total guideline value amounts to Rs 7,50,000. The stamp duty at 7% would be Rs 52,500, and the registration fee at 2% would be Rs 15,000, bringing the total cost to Rs 67,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Indara Nager New Colony?

The Indara Nager New Colony falls under the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Walajabad. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that all transactions are conducted transparently and fairly.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers must be aware that these fees are based on the higher of the guideline value or the actual sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Indara Nager New Colony?

The current guideline value of Indara Nager New Colony is Rs 750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has experienced various changes, with significant increases from Rs 60 per sq.ft in 2007 to Rs 750 per sq.ft in 2012, and again to Rs 750 per sq.ft in 2023 and 2024.

What are the stamp duty rates for properties in Indara Nager New Colony?

The stamp duty for properties in Indara Nager New Colony is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office handles registrations for this area?

The Walajabad Sub Registrar Office handles registrations for Indara Nager New Colony, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

What is the median guideline value for streets in Walajabad?

The median guideline value for streets in Walajabad is Rs 750 per sq.ft, which is the same as the current guideline value for Indara Nager New Colony.