Guideline Value for INDIRA GANDHI STREET APPAVOO NAGAR

Indira Gandhi Street Appavoo Nagar guideline value

The current guideline value of Indira Gandhi Street Appavoo Nagar is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Mambalam village under the Thiyagaraya nagar SRO, and it falls under the Residential Class I Type - II land classification.

How the guideline value of Indira Gandhi Street Appavoo Nagar has changed

The guideline value for Indira Gandhi Street Appavoo Nagar has seen several revisions over the years. Starting from Rs 805 per sq.ft in 2002, it increased to Rs 893 per sq.ft in 2003, marking an 11% rise. In 2007, the value jumped significantly to Rs 1,000 per sq.ft, which was a 12% increase. The 2012 revision brought the value back up to Rs 7,000 per sq.ft, resulting in a substantial 600% increase. However, in 2017, the value decreased to Rs 4,690 per sq.ft, reflecting a 33% decline. The guideline value then rose to Rs 7,000 per sq.ft in 2023, and the most recent revision in 2024 set it at Rs 7,700 per sq.ft, a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 857%. There are no figures available for the revisions in the years not listed above.

Guideline values in Mambalam

In Mambalam, there are 163 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 22,000 per sq.ft. The median value is Rs 6,600 per sq.ft, and Indira Gandhi Street Appavoo Nagar's 2024 guideline value is above this median.

• Hospital Road Anna Street: Rs 7,700 per sq.ft (2024)
• Hanumar Koil Street: Rs 8,800 per sq.ft (2024)
• Janaki Ammal Street: Rs 8,800 per sq.ft (2024)
• Govindan Road: Rs 12,100 per sq.ft (2024)
• Jayaram Street: Rs 5,500 per sq.ft (2024)
• Jeenis Road: Rs 12,100 per sq.ft (2024)

Stamp duty and registration fee for property in Indira Gandhi Street Appavoo Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, while the registration fee at 2% would be Rs 1,54,000. Together, the total cost for these fees would be Rs 6,93,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more accurate calculations based on your specific property.

Which Sub Registrar Office covers Indira Gandhi Street Appavoo Nagar?

The Sub Registrar Office that covers Indira Gandhi Street Appavoo Nagar is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is an essential factor when buying or selling property in Mambalam. It serves as the basis for calculating stamp duty and registration fees, which are mandatory during property transactions. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value helps determine the official sale price for tax purposes. This ensures that the transaction is recorded accurately and that the appropriate fees are paid to the government.

Frequently asked questions

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

The current guideline value of Indira Gandhi Street Appavoo Nagar is Rs 7,700 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 805 per sq.ft in 2002 to Rs 7,700 per sq.ft in 2024, reflecting an overall increase of 857% over the years.

What is the land classification for Indira Gandhi Street Appavoo Nagar?

Indira Gandhi Street Appavoo Nagar falls under the Residential Class I Type - II land classification.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000 and the registration fee would be Rs 1,54,000, totaling Rs 6,93,000.

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

The Sub Registrar Office is located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35, under the Thiyagaraya nagar SRO.