Guideline Value for INDIRA GANDHI STREET

Indira Gandhi Street guideline value

The current guideline value of Indira Gandhi Street in Chemmancheri village, under the Neelankarai SRO, is Rs 1,700 per sq.ft, effective from 1 July 2024. This street falls under Residential Class IV Type - I land classification.

How the guideline value of Indira Gandhi Street has changed

The guideline value for Indira Gandhi Street has undergone several revisions over the years. Starting from Rs 57 per sq.ft in 2003, it saw a significant increase to Rs 200 per sq.ft in 2007. The value then surged to Rs 1,500 per sq.ft in 2012, before dropping to Rs 1,005 per sq.ft in 2017. The 2023 revision brought it back up to Rs 1,500 per sq.ft, and the latest revision in 2024 has set it at Rs 1,700 per sq.ft, marking a 13% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 2882%. Notably, there is no figure available for the year 2002 in the register for this street.

Guideline values in Chemmancheri

In Chemmancheri, there are 195 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median value is Rs 1,700 per sq.ft, which is equal to the current guideline value of Indira Gandhi Street.

• Igp Ganesh Nagar: Rs 2,800 per sq.ft (2024)
• Hussian Garden: Rs 1,100 per sq.ft (2024)
• Irattai Malai Srinivasan Street: Rs 1,700 per sq.ft (2024)
• Jagajeevanram Salai: Rs 3,300 per sq.ft (2024)
• Jamela Begum Garden: Rs 2,800 per sq.ft (2024)
• Janani Homes/ Janani's Cm Enclave: Rs 1,700 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 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Indira Gandhi Street?

The Sub Registrar Office covering Indira Gandhi Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Chemmancheri. It serves as a benchmark for determining the stamp duty and registration fees that buyers must pay when purchasing property.

When a property is sold, the guideline value is used to ensure that the transaction is registered at a fair value, which helps in maintaining transparency in property dealings. Buyers should be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Indira Gandhi Street?

The current guideline value of Indira Gandhi Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 57 per sq.ft in 2003 to Rs 1,700 per sq.ft in 2024, showing a significant increase over the years.

What are the other streets in Chemmancheri with their guideline values?

Other streets in Chemmancheri include Igp Ganesh Nagar at Rs 2,800 per sq.ft, Hussian Garden at Rs 1,100 per sq.ft, and Irattai Malai Srinivasan Street at Rs 1,700 per sq.ft, among others.

How is stamp duty calculated for properties on Indira Gandhi Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a stamp duty of Rs 1,19,000 based on the current guideline value.

Where can I find the Sub Registrar Office for Indira Gandhi Street?

The Neelankarai Sub Registrar Office, which covers Indira Gandhi Street, is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.