Guideline Value

Corporate

Guideline Value for INDIRA GANDHI FIRST CROSS STREET

₹2200/sq.ft.

The guideline value for Indira Gandhi First Cross Street 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 ₹400 /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)

2/71, 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 First Cross Street

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Indira Gandhi First Cross Street guideline value

The current guideline value of Indira Gandhi First Cross Street 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. The land classification for this area is Residential Class II Type - II.

How the guideline value of Indira Gandhi First Cross Street has changed

The guideline value for Indira Gandhi First Cross Street has seen several revisions over the years. In 2007, the value was Rs 400 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, it then decreased to Rs 1,340 per sq.ft in 2017. The value rose again to Rs 2,000 per sq.ft in 2023, and as of the 2024 revision, it is now Rs 2,200 per sq.ft. The changes between these revisions include a +400% increase from 2007 to 2012, a -33% decrease from 2012 to 2017, a +49% increase from 2017 to 2023, and a +10% increase from 2023 to 2024.

There are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO that carry a 2024 guideline value 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 for Indira Gandhi First Cross Street is above this median.

Stamp duty and registration fee for property in Indira Gandhi First Cross Street

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 amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000. Together, the total cost would be Rs 1,98,000. 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 Gandhi First Cross Street?

The Sub Registrar Office that covers Indira Gandhi First Cross Street is 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 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 that must be paid during the transaction. The guideline value is set by the Registration Department and is regularly revised to reflect changes in the real estate market.

When a property is sold, the buyer must pay 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 First Cross Street?

The current guideline value of Indira Gandhi First Cross Street 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 significantly from Rs 400 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for Indira Gandhi First Cross Street?

The land classification for Indira Gandhi First Cross Street is Residential Class II Type - II.

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.

How is stamp duty calculated for properties in Karapakkam?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at a rate of 7%.