Guideline Value for INDIRA GANDHI NAGAR 2ND STREET

Indira Gandhi Nagar 2nd Street guideline value

The current guideline value of Indira Gandhi Nagar 2nd 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 is classified as Residential Class IV Type - I.

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

The guideline value for Indira Gandhi Nagar 2nd Street has seen several revisions over the years. The earliest recorded revision was in 2012, where the value was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in 2017. In 2023, the value increased to Rs 2,000 per sq.ft, and the most recent revision in 2024 set the value at Rs 2,200 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The value then rose by 10% from 2023 to 2024. Overall, comparing the 2012 and 2024 figures, there has been a 10% increase in the guideline value.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, placing the 2024 guideline value of Indira Gandhi Nagar 2nd Street below this median.

• Indira Gandhi Nagar 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Indira Gandhi Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Indira Gandhi Nagar 1st 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 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 for these fees would be 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 also use our stamp duty and registration fee calculator for more accurate calculations.

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

The Sub Registrar Office that covers Indira Gandhi Nagar 2nd 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 property transactions in Perambur. It serves as a benchmark for determining the stamp duty and registration fees when a property is bought or sold. Buyers and sellers must be aware of the guideline value to ensure compliance with the registration process.

When registering a property, the guideline value is compared to 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 from property transactions.

Frequently asked questions

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

The current guideline value of Indira Gandhi Nagar 2nd 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 2012 to Rs 1,340 per sq.ft in 2017, then increased 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 of Indira Gandhi Nagar 2nd Street?

Indira Gandhi Nagar 2nd Street is classified as Residential Class IV Type - I.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where is the Sub Registrar Office for Indira Gandhi Nagar 2nd Street located?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.