Guideline Value for INDIRA GANDHI STREET

Indira Gandhi Street guideline value

The current guideline value of Indira Gandhi Street in Jelandianpettai village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class II Type - I.

How the guideline value of Indira Gandhi Street has changed

In the 2012 revision, the guideline value was Rs 2,000 per sq.ft. This figure decreased to Rs 1,340 per sq.ft in the 2017 revision, marking a decline of 33%. The value then increased significantly to Rs 2,000 per sq.ft in the 2023 revision, followed by a further increase to Rs 2,200 per sq.ft in the 2024 revision, reflecting a 10% rise.

From 2017 to 2023, the guideline value increased by 49%. Overall, comparing the 2012 figure to the 2024 figure, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO, with 2024 guideline values ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, which is equal to the current value of Indira Gandhi Street.

• Indira Gandhi Cross Street: Rs 2,200 per sq.ft (2024)
• House Of Palisade By Dac: Rs 4,000 per sq.ft (2024)
• Isha Homes: Rs 2,750 per sq.ft (2024)
• Jaganathan Street: Rs 2,200 per sq.ft (2024)
• Jaganathapuram: Rs 2,200 per sq.ft (2024)
• Jaganathapuram Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Indira Gandhi Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to 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 to Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Indira Gandhi Street?

The Sub Registrar Office that covers Indira Gandhi Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. To find your SRO, click here.

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

The guideline value is a crucial factor when buying or selling property in Jelandianpettai, as it determines the minimum price at which a property can be registered. It is used to calculate the stamp duty and registration fees, which are mandatory costs associated with property transactions.

When a property is sold, the buyer must ensure that the sale price meets or exceeds the guideline value to avoid any legal issues during registration. This ensures that the transaction adheres to the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Indira Gandhi Street?

The current guideline value of Indira Gandhi 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 seen several changes, from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

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.

Which office handles property registrations for Indira Gandhi Street?

The Chennai South Joint I Sub Registrar Office handles property registrations for Indira Gandhi Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

Are there other streets with the same guideline value in Jelandianpettai?

Yes, several other streets in Jelandianpettai have the same guideline value of Rs 2,200 per sq.ft, including Indira Gandhi Cross Street, Jaganathan Street, Jaganathapuram, and Jaganathapuram Cross Street.