Guideline Value for INDHIRA GANDHI STREET

Indhira Gandhi Street guideline value

The current guideline value of Indhira Gandhi Street is Rs 700 per sq.ft, effective from 1 July 2024. This street is located in Vengathur village under the Manavalanagar SRO, classified as Residential Class II Type - I.

How the guideline value of Indhira Gandhi Street has changed

The guideline value for Indhira Gandhi Street has seen several revisions over the years. In the 2007 revision, the value was Rs 125 per sq.ft, which increased significantly to Rs 700 per sq.ft in the 2012 revision, marking a 460% increase. However, the value dropped to Rs 469 per sq.ft in the 2017 revision, a decrease of 33%. The value remained at Rs 700 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these years. The register has no figures for this street for the years 2002 and 2003.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 460%.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO with a 2024 guideline value ranging from Rs 500 to Rs 2,000 per sq.ft. The median value for these streets is Rs 1,000 per sq.ft, placing Indhira Gandhi Street's 2024 figure below this median.

• Hariharan Street: Rs 500 per sq.ft (2024)
• Jeevanantham Street: Rs 1,300 per sq.ft (2024)
• Gangatheeswarar Koil Street: Rs 1,300 per sq.ft (2024)
• Jegan Street: Rs 700 per sq.ft (2024)
• GANGAIAMMAN KOIL STREET(a)BHARTHASARATHY STREET: Rs 1,300 per sq.ft (2024)
• Ganesan Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Indhira Gandhi Street

For a 1,000 sq.ft plot at the current rate of Rs 700 per sq.ft, the guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, totaling Rs 63,000. It is important to note that 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 Indhira Gandhi Street?

The Sub Registrar Office that covers Indhira Gandhi Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that all transactions are conducted transparently and fairly.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This process helps maintain a standardized valuation system across the region, providing clarity and consistency for all parties involved in the transaction.

Frequently asked questions

What is the current guideline value of Indhira Gandhi Street?

The current guideline value of Indhira Gandhi Street is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various revisions, with the most significant increase occurring from Rs 125 per sq.ft in 2007 to Rs 700 per sq.ft in 2012. The value has remained at Rs 700 per sq.ft since 2012, with no change from 2023 to 2024.

What is the median guideline value for streets in Vengathur?

The median guideline value for streets in Vengathur is Rs 1,000 per sq.ft. Indhira Gandhi Street's 2024 figure of Rs 700 per sq.ft is below this median.

What are the stamp duty and registration fees for property in Indhira Gandhi Street?

For a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000 and the registration fee would be Rs 14,000, totaling Rs 63,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Indhira Gandhi Street?

The Manavalanagar Sub Registrar Office handles registrations for Indhira Gandhi Street. It is located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.