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Guideline Value

Corporate

Guideline Value for INDIRA GANDHI NAGAR 1ST STREET

₹3800/sq.ft.

The guideline value for Indira Gandhi Nagar 1st Street in Vadaagaram village (Kodambakkam SRO, Chennai zone) is Rs 3800 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 9% change. The land classification is Residential Class Iv Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Vadaagaram

Village

Kodambakkam

SRO

Residential Class IV Type - II
History
Period Guideline Value
From 1-7-2024 ₹3800 /sq.ft.
From 1-4-2023 ₹3500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2345 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹3500 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.
044-24843265
[email protected]

DRO (District Registrar Office)

No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai - 600 014.
044-28613607
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Indira Gandhi Nagar 1st Street

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Indira Gandhi Nagar 1st Street guideline value

The current guideline value of Indira Gandhi Nagar 1st Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Vadaagaram village and falls under the Kodambakkam SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Indira Gandhi Nagar 1st Street has changed

In the 2012 revision, the guideline value was set at Rs 3,500 per sq.ft. This value decreased to Rs 2,345 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 3,500 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 3,800 per sq.ft, representing a 9% rise from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. The overall change from the 2012 revision to the 2024 revision shows a modest increase of 9% in the guideline value.

Guideline values in Vadaagaram

In Vadaagaram, there are 78 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 6,600 per sq.ft, indicating that the guideline value for Indira Gandhi Nagar 1st Street is below this median.

Stamp duty and registration fee for property in Indira Gandhi Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, making the total cost for these fees Rs 3,42,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Indira Gandhi Nagar 1st Street?

The Sub Registrar Office that covers Indira Gandhi Nagar 1st Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. To find your SRO, you can visit this link.

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

The guideline value is a crucial factor during the registration process of property transactions in Vadaagaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is considered to ensure that the transaction is in line with the prevailing market standards. This helps maintain transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Indira Gandhi Nagar 1st Street?

The current guideline value of Indira Gandhi Nagar 1st Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,800 per sq.ft in 2024, which is a 9% increase. It previously saw a decrease to Rs 2,345 per sq.ft in 2017 from Rs 3,500 per sq.ft in 2012, followed by a significant rise to Rs 3,500 per sq.ft in 2023.

What is the stamp duty for properties in Indira Gandhi Nagar 1st Street?

The stamp duty for properties in Indira Gandhi Nagar 1st Street is 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000.

How many streets in Vadaagaram have a guideline value?

There are 78 streets in Vadaagaram under the Kodambakkam SRO that carry a guideline value for the year 2024.

Where can I find my Sub Registrar Office?

You can find your Sub Registrar Office by visiting the designated link provided for locating your SRO. The Kodambakkam Sub Registrar Office covers Indira Gandhi Nagar 1st Street.