Guideline Value for INDHRA GANDHI AVENUE

Indhra Gandhi Avenue guideline value

The current guideline value of Indhra Gandhi Avenue in Koladi village is Rs 660 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class II Type - III.

How the guideline value of Indhra Gandhi Avenue has changed

Over the years, the guideline value of Indhra Gandhi Avenue has seen several revisions. The earliest recorded figure is from 2007, where the value was Rs 250 per sq.ft. This increased to Rs 600 per sq.ft in 2012, marking a significant rise of 140%. However, the value dropped to Rs 402 per sq.ft in 2017, a decrease of 33%. The 2023 revision set the value at Rs 600 per sq.ft, which then increased by 10% to Rs 660 per sq.ft in 2024.

In summary, from 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the current 2024 figure, there has been a substantial increase of 164%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Koladi

In Koladi, there are 175 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 660 to Rs 4,000 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, indicating that the guideline value of Indhra Gandhi Avenue is below this median.

• Jai Nagar Road: Rs 660 per sq.ft (2024)
• Jayam Nagar: Rs 660 per sq.ft (2024)
• Jeevarathinammal Street: Rs 880 per sq.ft (2024)
• Ethulia: Rs 4,000 per sq.ft (2024)
• Durgadevi Nagar Cross And Anbu Naga R Cross: Rs 880 per sq.ft (2024)
• Durgadevi Nagar: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Indhra Gandhi Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total charges to Rs 59,400. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Indhra Gandhi Avenue?

The Sub Registrar Office that covers Indhra Gandhi Avenue is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Koladi, as it determines the minimum price at which a property can be registered. Buyers must pay stamp duty and registration fees based on this value, ensuring that the government receives its due revenue from property transactions.

When selling a property, the guideline value serves as a benchmark for pricing. Sellers often use this value to set competitive prices in the market, ensuring that the property is valued appropriately according to the latest revisions.

Frequently asked questions

What is the current guideline value of Indhra Gandhi Avenue?

The current guideline value of Indhra Gandhi Avenue is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 250 per sq.ft in 2007 to Rs 660 per sq.ft in 2024, marking an overall increase of 164%.

What is the land classification for Indhra Gandhi Avenue?

Indhra Gandhi Avenue is classified as Residential Class II Type - III under the Chennai South Joint II SRO.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 and the registration fee would be Rs 13,200, totaling Rs 59,400.

Which office handles registrations for properties in Koladi?

The Chennai South Joint II Sub Registrar Office handles registrations for properties in Koladi, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.