Guideline Value for INDIRA GANTHI NAGAR (N)

Indira Ganthi Nagar (N) guideline value

The current guideline value of Indira Ganthi Nagar (N) is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Sattamangalam village under the Chengleput Joint II SRO and is classified as Residential Class I Type - III.

How the guideline value of Indira Ganthi Nagar (N) has changed

The guideline value for Indira Ganthi Nagar (N) has undergone several revisions over the years. The 2012 revision set the guideline value at Rs 600 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 402 per sq.ft. In the 2023 revision, the value increased to Rs 600 per sq.ft, and the most recent 2024 revision raised it further to Rs 660 per sq.ft.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The change from 2023 to 2024 reflects a 10% increase, resulting in an overall increase of 10% from the 2012 to the 2024 revision.

Guideline values in Sattamangalam

In Sattamangalam village, there are 425 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, placing the 2024 figure for Indira Ganthi Nagar (N) below this median.

• India Piston (Pa): Rs 550 per sq.ft (2024)
• Indhu Garden (Sa): Rs 660 per sq.ft (2024)
• Imayavaramban Street (Ward -4): Rs 1,320 per sq.ft (2024)
• Ilawalahar Street (Ward -7): Rs 1,320 per sq.ft (2024)
• Ilavazhaganar Street (Ward -7): Rs 1,760 per sq.ft (2024)
• Ilanthiraian Street (Ward -6): Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Indira Ganthi Nagar (N)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total cost for these fees to Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further assistance, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Indira Ganthi Nagar (N)?

The Sub Registrar Office that covers Indira Ganthi Nagar (N) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Sattamangalam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the fees reflect the true value of the property being transacted.

Frequently asked questions

What is the current guideline value of Indira Ganthi Nagar (N)?

The current guideline value of Indira Ganthi Nagar (N) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase being from Rs 600 per sq.ft in 2023 to Rs 660 per sq.ft in 2024. The value saw a decrease from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, followed by an increase to Rs 600 per sq.ft in 2023.

What is the land classification of Indira Ganthi Nagar (N)?

Indira Ganthi Nagar (N) is classified as Residential Class I Type - III, which indicates its suitability for residential development.

Where can I find the Sub Registrar Office for Indira Ganthi Nagar (N)?

The Chengleput Joint II Sub Registrar Office covers Indira Ganthi Nagar (N) and is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for properties in Sattamangalam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 6,60,000, the stamp duty at 7% would be Rs 46,200.