Guideline Value for INDIRA GANDHI NAGAR 2ND CROSS STREET

Indira Gandhi Nagar 2nd Cross Street guideline value

The current guideline value of Indira Gandhi Nagar 2nd Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, and it falls under the Residential Class IV Type - I land classification.

How the guideline value of Indira Gandhi Nagar 2nd Cross Street has changed

The guideline value for Indira Gandhi Nagar 2nd Cross Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, which is an increase from Rs 2,000 per sq.ft in 2023, marking a 10% rise. Prior to that, the value was Rs 1,340 per sq.ft in 2017, reflecting a significant increase of 49% over the six-year period. The value in 2012 was Rs 2,000 per sq.ft, which was a decrease of 33% from the 2017 figure.

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

Guideline values in Perambur

In Perambur, there are a total of 1114 streets under the Purasaivakkam SRO that have a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value of Indira Gandhi Nagar 2nd Cross Street is below this median.

• Indira Gandhi Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Indira Gandhi Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Indira Gandhi Nagar 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Indira Gandhi Nagar 4th Cross Street: Rs 2,200 per sq.ft (2024)
• Indira Gandhi Nagr 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Indira Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Indira Gandhi Nagar 2nd 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 be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Indira Gandhi Nagar 2nd Cross Street?

The Sub Registrar Office that covers Indira Gandhi Nagar 2nd Cross Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perambur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Indira Gandhi Nagar 2nd Cross Street?

The current guideline value of Indira Gandhi Nagar 2nd 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 from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, a 10% increase. It was Rs 1,340 per sq.ft in 2017 and Rs 2,000 per sq.ft in 2012, showing a 49% increase from 2017 to 2023.

What are the other streets in Perambur with the same guideline value?

Other streets in Perambur that share the same guideline value of Rs 2,200 per sq.ft include Indira Gandhi Nagar 1st Street, Indira Gandhi Nagar 2nd Street, Indira Gandhi Nagar 3rd Cross Street, Indira Gandhi Nagar 4th Cross Street, Indira Gandhi Nagr 1st Cross Street, and Indira Nagar.

What fees are involved when buying property in Indira Gandhi Nagar 2nd Cross Street?

When buying property, you will need to pay stamp duty at 7% and a registration fee at 2% based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 1,98,000.

Where can I find the Sub Registrar Office for Indira Gandhi Nagar 2nd Cross Street?

The Sub Registrar Office for Indira Gandhi Nagar 2nd Cross Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find more information on how to locate your SRO.