Guideline Value for INDIGO NAGAR

Indigo Nagar guideline value

The current guideline value of Indigo Nagar, located in Naduveerapattu village under the Padappai SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Special Type - III.

How the guideline value of Indigo Nagar has changed

The guideline value for Indigo Nagar has seen significant changes over the years. In the 2017 revision, the value was Rs 800 per sq.ft, which increased to Rs 1,195 per sq.ft in 2023. The most recent revision in 2024 shows a further increase to Rs 1,320 per sq.ft, reflecting a change of +10% from the previous year. Overall, from 2017 to 2024, the guideline value has risen by +65%.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street. The increase from 2017 to 2023 was +49%, indicating a substantial rise in the guideline value over that period.

Guideline values in Naduveerapattu

In Naduveerapattu, there are 96 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 330 to Rs 2,500 per sq.ft, with a median value of Rs 660 per sq.ft. The guideline value for Indigo Nagar is above this median.

• Indira Nagar: Rs 1,650 per sq.ft (2024)
• Gurupatham Nagar: Rs 550 per sq.ft (2024)
• Jagan Nagar: Rs 770 per sq.ft (2024)
• Green Paradise Phase - II: Rs 660 per sq.ft (2024)
• Green Paradise Part I and II: Rs 660 per sq.ft (2024)
• Green Paradise: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Indigo Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400. Together, the total cost for stamp duty and registration fee would be Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Indigo Nagar?

The Sub Registrar Office that covers Indigo Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions in Naduveerapattu, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

When a property is sold, the registration office uses the guideline value to calculate applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Indigo Nagar?

The current guideline value of Indigo Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 800 per sq.ft to Rs 1,320 per sq.ft in 2024, marking a total increase of 65% over this period.

What is the land classification for Indigo Nagar?

The land classification for Indigo Nagar is Mixed Special Type - III.

Where is the Sub Registrar Office for Indigo Nagar located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for property in Indigo Nagar?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would amount to Rs 92,400 based on the current guideline value.