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Guideline Value

Corporate

Guideline Value for INDIRA GANDHI NAGAR 8TH STREET

₹3800/sq.ft.

The guideline value for Indira Gandhi Nagar 8th 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 8th Street

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Indira Gandhi Nagar 8th Street guideline value

The current guideline value of Indira Gandhi Nagar 8th Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Vadaagaram village, under the Kodambakkam SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Indira Gandhi Nagar 8th Street has changed

Over the years, the guideline value of Indira Gandhi Nagar 8th Street has seen several revisions. The earliest recorded figure is from 2007, when the guideline value was Rs 750 per sq.ft. This increased significantly to Rs 3,500 per sq.ft in 2012, marking a rise of 367%. However, the value then decreased to Rs 2,345 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 3,500 per sq.ft in 2023, and subsequently increased to the current value of Rs 3,800 per sq.ft in 2024, reflecting a 9% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the increase has been substantial, amounting to 407%. The register does not have figures for the years 2002 and 2003 for this street.

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 value for Indira Gandhi Nagar 8th Street is below this median.

Stamp duty and registration fee for property in Indira Gandhi Nagar 8th 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, making the total charges Rs 3,42,000. It's important to note that the duty is charged on the higher of the guideline value and the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Indira Gandhi Nagar 8th Street?

The Sub Registrar Office that covers Indira Gandhi Nagar 8th Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. For more information on finding your SRO, visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Vadaagaram. It serves as the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable during the transaction.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Indira Gandhi Nagar 8th Street?

The current guideline value of Indira Gandhi Nagar 8th 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, reflecting an overall increase of 407% over the years.

What are the other streets in Vadaagaram with the same guideline value?

Other streets in Vadaagaram, such as Indira Gandhi Nagar 7th Street, 6th Street, Main Road, 5th Street, 4th Street, and 3rd Street, all have a guideline value of Rs 3,800 per sq.ft for 2024.

What is the registration office for Indira Gandhi Nagar 8th Street?

The registration office for Indira Gandhi Nagar 8th Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is the stamp duty calculated for properties in Vadaagaram?

Stamp duty for properties in Vadaagaram is calculated based on the guideline value or the sale price, whichever is higher. The current rate is 7% for stamp duty and 2% for the registration fee.