Guideline Value for INDIRA COTTON MILLS QUARTERS

Indira Cotton Mills Quarters guideline value

The current guideline value of Indira Cotton Mills Quarters is Rs 2,380 per sq.ft, effective from 1 July 2024. This property is located in Hastinapuram village, under the Pallavaram Sub Registrar Office (SRO), and is classified as Residential Class II Type - I.

How the guideline value of Indira Cotton Mills Quarters has changed

The guideline value for Indira Cotton Mills Quarters has undergone several revisions over the years. The oldest recorded figure is from 2012, where the value was Rs 2,200 per sq.ft. This was followed by a decrease to Rs 1,474 per sq.ft in 2017, which marked a decline of 33%. In 2023, the value increased to Rs 2,200 per sq.ft again, and in the latest revision for 2024, it stands at Rs 2,380 per sq.ft, reflecting an increase of 8% from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median value for these streets is Rs 2,970 per sq.ft, indicating that the guideline value for Indira Cotton Mills Quarters is below this median.

• Illango Street: Rs 1,650 per sq.ft (2024)
• Indrakattan Colony: Rs 1,650 per sq.ft (2024)
• Indra Nagar: Rs 1,650 per sq.ft (2024)
• Hasthinapuram Main Road: Rs 4,400 per sq.ft (2024)
• Harijan Colony 2nd Street: Rs 1,650 per sq.ft (2024)
• Harijan Colony 1st Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Indira Cotton Mills Quarters

For a 1,000 sq.ft plot at the current guideline value of Rs 2,380 per sq.ft, the total guideline value amounts to Rs 23,80,000. The stamp duty, charged at 7%, would be Rs 1,66,600, and the registration fee, charged at 2%, would be Rs 47,600. Together, these fees would total Rs 2,14,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Indira Cotton Mills Quarters?

The Indira Cotton Mills Quarters falls under the jurisdiction of the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Hastinapuram. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Indira Cotton Mills Quarters?

The current guideline value of Indira Cotton Mills Quarters is Rs 2,380 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, then back to Rs 2,200 per sq.ft in 2023, and finally to Rs 2,380 per sq.ft in 2024.

What is the land classification for Indira Cotton Mills Quarters?

The land classification for Indira Cotton Mills Quarters is Residential Class II Type - I.

What is the range of guideline values in Hastinapuram?

The guideline values in Hastinapuram range from Rs 1,650 to Rs 4,400 per sq.ft in 2024, with a median value of Rs 2,970 per sq.ft.

Where is the Pallavaram Sub Registrar Office located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.