Guideline Value for INDIRA GANDHI NAGAR 4TH STREET

Indira Gandhi Nagar 4th Street guideline value

The current guideline value of Indira Gandhi Nagar 4th Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Vadaagaram village under the Kodambakkam SRO, classified as Residential Class IV Type - II.

How the guideline value of Indira Gandhi Nagar 4th Street has changed

The guideline value has undergone several revisions since 2007. In 2007, the value was Rs 750 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012. However, this value decreased to Rs 2,345 per sq.ft in 2017. The 2023 revision saw a sharp increase to Rs 3,500 per sq.ft, followed by the current value of Rs 3,800 per sq.ft in 2024, marking a 9% rise from the previous year.

Notably, the revisions for the years 2002 and 2003 do not have any recorded figures for this street. Overall, from 2007 to 2024, the guideline value has increased by 407%.

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 value for these streets is Rs 6,600 per sq.ft, indicating that the 2024 guideline value for Indira Gandhi Nagar 4th Street is below this median.

• Indira Gandhi Nagar 5th Street: Rs 3,800 per sq.ft (2024)
• Indira Gandhi Nagar 3rd Street: Rs 3,800 per sq.ft (2024)
• Indira Gandhi Nagar 6th Street: Rs 3,800 per sq.ft (2024)
• Indira Gandhi Nagar 7th Street: Rs 3,800 per sq.ft (2024)
• Indira Gandhi Nagar 8th Street: Rs 3,800 per sq.ft (2024)
• Indira Gandhi Nagar 2nd Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Indira Gandhi Nagar 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total to Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Indira Gandhi Nagar 4th Street?

The Sub Registrar Office that covers Indira Gandhi Nagar 4th Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Vadaagaram. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the sale or purchase of property.

When a property is sold, the guideline value is used to calculate the applicable duties, ensuring that the transaction is registered at a fair value as per the government regulations. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value for Indira Gandhi Nagar 4th Street?

The current guideline value for Indira Gandhi Nagar 4th 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 750 per sq.ft in 2007 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 407% over the years.

What is the land classification for Indira Gandhi Nagar 4th Street?

Indira Gandhi Nagar 4th Street is classified as Residential Class IV Type - II under the Kodambakkam SRO.

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

Stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 38,00,000, the total fees would amount to Rs 3,42,000.

Where is the Kodambakkam Sub Registrar Office located?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.