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Guideline Value

Corporate

Guideline Value for INDIRA GANDHI NAGAR MAIN ROAD

₹3800/sq.ft.

The guideline value for Indira Gandhi Nagar Main Road 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 ₹900 /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 Main Road

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Indira Gandhi Nagar Main Road guideline value

The current guideline value of Indira Gandhi Nagar Main Road is Rs 3,800 per sq.ft, effective from 1 July 2024. This road 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 Main Road has changed

The guideline value for Indira Gandhi Nagar Main Road has undergone several revisions over the years. In 2007, the value was Rs 900 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012. However, it then decreased to Rs 2,345 per sq.ft in 2017. The 2023 revision set the value at Rs 3,500 per sq.ft, and the most recent revision in 2024 raised it to Rs 3,800 per sq.ft.

From the 2017 revision to 2023, there was a notable increase of 49%. The jump from 2023 to 2024 reflects a change of 9%. Overall, from 2007 to 2024, the guideline value has increased by 322%. 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 value for these streets is Rs 6,600 per sq.ft, placing Indira Gandhi Nagar Main Road's 2024 figure below that median.

Stamp duty and registration fee for property in Indira Gandhi Nagar Main Road

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, while the registration fee at 2% would be Rs 76,000. Together, the total cost for these fees would be 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 more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Indira Gandhi Nagar Main Road?

The Sub Registrar Office that covers Indira Gandhi Nagar Main Road 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 plays a crucial role in the registration process when buying or selling property in Vadaagaram. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. This ensures that the transaction is officially recorded and that the appropriate taxes are collected by the government.

When a property is sold, the guideline value is considered to ensure that the sale price is in line with the current market standards. Buyers and sellers must be aware of the guideline value to understand their financial obligations during the property transaction process.

Frequently asked questions

What is the current guideline value of Indira Gandhi Nagar Main Road?

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

How has the guideline value changed over the years?

Over the years, the guideline value has seen several revisions, with the most recent being an increase from Rs 3,500 per sq.ft in 2023 to Rs 3,800 per sq.ft in 2024.

What is the land classification for Indira Gandhi Nagar Main Road?

Indira Gandhi Nagar Main Road is classified as Residential Class IV Type - II, indicating its suitability for residential development.

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.

How is the stamp duty calculated for properties in Vadaagaram?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 at a rate of 7%.