Guideline Value for INDIRA GANDHI NAGAR

Indira Gandhi Nagar guideline value

The current guideline value of Indira Gandhi Nagar, located in Paruthipattu village, under the Avadi SRO, is Rs 1,625 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Indira Gandhi Nagar has changed

The guideline value for Indira Gandhi Nagar has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 152 per sq.ft. This increased to Rs 175 per sq.ft in 2003, marking a 15% rise. The value then saw a significant increase to Rs 350 per sq.ft in 2007, which was a 100% increase. In 2012, the value adjusted to Rs 1,200 per sq.ft, reflecting a 243% increase from the previous revision. However, this was followed by a decrease to Rs 804 per sq.ft in 2017, which represented a 33% drop. The value then rose sharply to Rs 1,500 per sq.ft in 2023, an increase of 87%. Finally, the current guideline value is Rs 1,625 per sq.ft from the 2024 revision, which is an 8% increase from the previous year.

There are no figures available for the revisions in the years not mentioned in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 969%.

Guideline values in Paruthipattu

In Paruthipattu, there are 486 streets under the Avadi SRO, with the 2024 guideline values ranging from Rs 801 to Rs 4,730 per sq.ft. The median value is Rs 1,625 per sq.ft, which is the same as the guideline value for Indira Gandhi Nagar.

• Indira Nagar 1st St: Rs 1,625 per sq.ft (2024)
• Indira Nagar 2nd St: Rs 1,625 per sq.ft (2024)
• Ideal Home In M.R.Garden: Rs 1,625 per sq.ft (2024)
• Indiran Gandhi St Konambedu: Rs 950 per sq.ft (2024)
• H.V.F.Road (Commercial): Rs 3,300 per sq.ft (2024)
• Indira St: Rs 950 per sq.ft (2024)

Stamp duty and registration fee for property in Indira Gandhi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,625 per sq.ft, the total guideline value would be Rs 16,25,000. The stamp duty at 7% would be Rs 1,13,750, and the registration fee at 2% would be Rs 32,500, bringing the total to Rs 1,46,250. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Indira Gandhi Nagar?

The Sub Registrar Office that covers Indira Gandhi Nagar is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

To locate your SRO, you can find your SRO.

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

The guideline value is a critical factor during property registration in Paruthipattu. It serves as a reference point for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property transaction occurs, the buyer must pay the applicable stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Indira Gandhi Nagar?

The current guideline value of Indira Gandhi Nagar is Rs 1,625 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 152 per sq.ft in 2002 to Rs 1,625 per sq.ft in 2024, marking a total increase of 969% over the years.

What is the land classification of Indira Gandhi Nagar?

Indira Gandhi Nagar is classified as Residential Special Type - I.

Where can I find the registration office for Indira Gandhi Nagar?

The registration office for Indira Gandhi Nagar is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is stamp duty calculated for property in Indira Gandhi Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 16,25,000, the stamp duty would be Rs 1,13,750 at 7%.