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Guideline Value

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Guideline Value for INDIRA GANDHI 1st STREET 3nd CROSS

₹2200/sq.ft.

The guideline value for Indira Gandhi 1st Street 3nd 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 3nd Cross

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INDIRA GANDHI 1st STREET 3nd CROSS guideline value

The current guideline value of INDIRA GANDHI 1st STREET 3nd CROSS is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Karapakkam village and falls under the Neelankarai SRO, classified as Residential Class II Type - II.

How the guideline value of INDIRA GANDHI 1st STREET 3nd CROSS has changed

Over the years, the guideline value for INDIRA GANDHI 1st STREET 3nd CROSS has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in 2017. Following this, the value increased to Rs 2,000 per sq.ft in 2023, and finally reached Rs 2,200 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Specifically, from 2017 to 2023, the guideline value increased by 49%. The overall change from the 2012 figure to the 2024 figure is a 10% increase. The revisions for the years 2002, 2003, and 2007 have no figures listed for this street.

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO that carry a guideline value for 2024, ranging from Rs 1,000 to Rs 10,700 per sq.ft, with a median value of Rs 1,700 per sq.ft. The guideline value of INDIRA GANDHI 1st STREET 3nd CROSS is above this median.

Stamp duty and registration fee for property in INDIRA GANDHI 1st STREET 3nd CROSS

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to 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 also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers INDIRA GANDHI 1st STREET 3nd CROSS?

The INDIRA GANDHI 1st STREET 3nd 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. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Karapakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When you buy or sell property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that all transactions are fairly assessed based on the established guideline values.

Frequently asked questions

What is the current guideline value of INDIRA GANDHI 1st STREET 3nd CROSS?

The current guideline value of INDIRA GANDHI 1st STREET 3nd CROSS is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 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 are the stamp duty and registration fees for property in this area?

For a 1,000 sq.ft plot, the total guideline value is Rs 22,00,000, with stamp duty at Rs 1,54,000 and registration fees at Rs 44,000, totaling Rs 1,98,000.

Which office handles the registration for this street?

The Neelankarai Sub Registrar Office handles the registration for INDIRA GANDHI 1st STREET 3nd CROSS, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the significance of the guideline value?

The guideline value is significant as it sets the minimum price for property registration, ensuring that the government receives appropriate revenue through stamp duty and registration fees during property transactions.