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Guideline Value

Corporate

Guideline Value for INDIRA GANDHI NAGAR 7TH STREET

₹3800/sq.ft.

The guideline value for Indira Gandhi Nagar 7th 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 ₹750 /sq.ft.
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 7th Street

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Indira Gandhi Nagar 7th Street guideline value

The current guideline value of Indira Gandhi Nagar 7th 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 7th Street has changed

Over the years, the guideline value of Indira Gandhi Nagar 7th Street has seen several revisions. The earliest recorded revision was in 2007, with a guideline value of Rs 750 per sq.ft. This increased significantly to Rs 3,500 per sq.ft in 2012, marking a substantial rise of 367%. However, by 2017, the value dropped to Rs 2,345 per sq.ft, a decrease of 33%. The value then climbed to Rs 3,500 per sq.ft in 2023, before reaching the current rate of Rs 3,800 per sq.ft in 2024, which is a 9% increase from the previous year.

It is noteworthy that there are no recorded figures for the years 2002 and 2003 for this street. From 2017 to 2023, the guideline value increased by 49%, and overall, from 2007 to 2024, there has been a remarkable increase of 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 guideline value in this village is Rs 6,600 per sq.ft, indicating that the guideline value of Indira Gandhi Nagar 7th Street is below this median.

Stamp duty and registration fee for property in Indira Gandhi Nagar 7th 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.

You can also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Indira Gandhi Nagar 7th Street?

The Sub Registrar Office that covers Indira Gandhi Nagar 7th Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. For more information, you can find your SRO.

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

When buying or selling property in Vadaagaram, the guideline value plays a crucial role in determining the stamp duty and registration fees. It serves as a benchmark for the minimum value at which properties are registered, ensuring that the government receives the appropriate revenue from property transactions.

Both buyers and sellers should be aware that the guideline value is used to calculate the stamp duty, which is charged at a percentage of the higher value between the guideline value and the sale price. This ensures transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Indira Gandhi Nagar 7th Street?

The current guideline value of Indira Gandhi Nagar 7th 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 significantly from Rs 750 per sq.ft in 2007 to Rs 3,800 per sq.ft in 2024, marking an overall increase of 407% over the years.

What is the land classification for Indira Gandhi Nagar 7th Street?

Indira Gandhi Nagar 7th Street is classified as Residential Class IV Type - II.

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

For a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 and the registration fee would be Rs 76,000, totaling Rs 3,42,000.

Which Sub Registrar Office is responsible for Indira Gandhi Nagar 7th Street?

The Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026, is responsible for Indira Gandhi Nagar 7th Street.