Guideline Value for INDIRA GANDHI STREET

Indira Gandhi Street guideline value

The current guideline value of Indira Gandhi Street is Rs 4,700 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village under the Kodambakkam SRO, classified as Residential Class IV Type - I.

How the guideline value of Indira Gandhi Street has changed

The guideline value for Indira Gandhi Street has undergone several revisions over the years. The earliest recorded revision is from 2002, where the guideline value was Rs 703 per sq.ft. This value increased to Rs 775 per sq.ft in 2003, marking a 10% increase. In 2007, the guideline value saw a significant rise to Rs 1,050 per sq.ft, which is an increase of 35% from the previous year. The value then rose to Rs 4,300 per sq.ft in 2012, reflecting a substantial increase of 310% from 2007. However, the guideline value decreased by 33% to Rs 2,881 per sq.ft in 2017, before increasing again to Rs 4,300 per sq.ft in 2023.

Most recently, the guideline value was revised to Rs 4,700 per sq.ft in 2024, representing a 9% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 569%.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft, with a median value of Rs 6,000 per sq.ft. The guideline value for Indira Gandhi Street is below this median.

• Indian Bank Colony: Rs 4,400 per sq.ft (2024)
• Indirani Cross Street: Rs 5,300 per sq.ft (2024)
• Jaganathan Nagar: Rs 6,000 per sq.ft (2024)
• Jaganathan Nagar II Nd Main Road: Rs 6,000 per sq.ft (2024)
• Jaganathan Nagar I St Main Road: Rs 6,000 per sq.ft (2024)
• Jaganathan Street: Rs 6,000 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 guideline value of Rs 4,700 per sq.ft, the total guideline value would be Rs 47,00,000. The stamp duty at 7% would amount to Rs 3,29,000, and the registration fee at 2% would be Rs 94,000, making the total cost Rs 4,23,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Indira Gandhi Street?

The Sub Registrar Office that covers Indira Gandhi Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more details.

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

The guideline value is an essential factor in property transactions in Arumbakkam. It serves as a reference point for determining the stamp duty and registration fees during the buying or selling process. When registering a property, buyers must pay the applicable stamp duty based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is crucial for both buyers and sellers, as it directly impacts the financial aspects of property transactions. It ensures that the transaction is in compliance with government regulations and helps in the smooth processing of property registrations.

Frequently asked questions

What is the current guideline value of Indira Gandhi Street?

The current guideline value of Indira Gandhi Street is Rs 4,700 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 703 per sq.ft in 2002 to Rs 4,700 per sq.ft in 2024, reflecting an overall increase of 569% over this period.

What is the land classification for Indira Gandhi Street?

Indira Gandhi Street is classified as Residential Class IV Type - I under the Kodambakkam SRO.

What are the stamp duty and registration fees for properties in Indira Gandhi Street?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 47,00,000, the total stamp duty and registration fees would be Rs 4,23,000.

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

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.