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Guideline Value

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Guideline Value for INDIRA GANDHI 1st STREET 2nd CROSS

₹2200/sq.ft.

The guideline value for Indira Gandhi 1st Street 2nd Cross in Karapakkam village (Neelankarai SRO, Chennai zone) is Rs 2200 per sq.ft, effective 1 July 2024. It was Rs 2000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Karapakkam

Village

Neelankarai

SRO

Residential Class II Type - II
History
Period Guideline Value
From 1-7-2024 ₹2200 /sq.ft.
From 1-4-2023 ₹2000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1340 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2000 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
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)

2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41
044-24490134
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[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 1st Street 2nd Cross

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INDIRA GANDHI 1st STREET 2nd CROSS guideline value

The current guideline value of INDIRA GANDHI 1st STREET 2nd CROSS is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Karapakkam village under the Neelankarai SRO and is classified as Residential Class II Type - II.

How the guideline value of INDIRA GANDHI 1st STREET 2nd CROSS has changed

The guideline value for INDIRA GANDHI 1st STREET 2nd CROSS has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,000 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 raised the value to Rs 2,200 per sq.ft, a 10% increase from the previous year.

It is important to note that there are no recorded figures for this street in the revisions from 2002, 2003, and 2007. Overall, the guideline value has increased by 10% from the 2012 figure to the 2024 figure.

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 10,700 per sq.ft. The median value for these streets is Rs 1,700 per sq.ft, placing the guideline value of INDIRA GANDHI 1st STREET 2nd CROSS above this median.

Stamp duty and registration fee for property in INDIRA GANDHI 1st STREET 2nd CROSS

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty, charged at 7%, would be Rs 1,54,000, and the registration fee, at 2%, would be Rs 44,000. Together, these fees total Rs 1,98,000. It is important to note that 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 accurate calculations based on your specific property details.

Which Sub Registrar Office covers INDIRA GANDHI 1st STREET 2nd CROSS?

The INDIRA GANDHI 1st STREET 2nd CROSS falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find more details, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Karapakkam. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

When a property is registered, the guideline value ensures that the transaction is recorded at a fair value, helping to maintain transparency in real estate transactions. It is advisable for buyers and sellers to be aware of the current guideline values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of INDIRA GANDHI 1st STREET 2nd CROSS?

The current guideline value of INDIRA GANDHI 1st STREET 2nd CROSS is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for INDIRA GANDHI 1st STREET 2nd CROSS?

INDIRA GANDHI 1st STREET 2nd CROSS is classified as Residential Class II Type - II.

What are the stamp duty rates for property in this area?

The stamp duty for property in this area is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2% of the guideline value.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.