Guideline Value for INDIRA NAGAR - Pachaiyappan Street

INDIRA NAGAR - Pachaiyappan Street guideline value

The current guideline value of INDIRA NAGAR - Pachaiyappan Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Nesapakkam village, under the Virugambakkam SRO, and is classified as Residential Class I Type - I.

How the guideline value of INDIRA NAGAR - Pachaiyappan Street has changed

The guideline value for INDIRA NAGAR - Pachaiyappan Street has seen several revisions over the years. In 2002, the guideline value was Rs 300 per sq.ft, which increased to Rs 330 per sq.ft in 2003, marking a 10% rise. By 2007, the value surged to Rs 500 per sq.ft, reflecting a significant increase of 52%. The value remained at Rs 500 per sq.ft until 2012, when it jumped to Rs 3,500 per sq.ft, a remarkable increase of 600%. However, in 2017, the value dropped to Rs 2,345 per sq.ft, a decrease of 33%. The following revision in 2023 saw the value rise to Rs 3,500 per sq.ft, and the current value in 2024 is Rs 3,850 per sq.ft, representing a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1183%. The register has no figures for the years not mentioned in the revisions above.

Guideline values in Nesapakkam

Nesapakkam village has 148 streets under the Virugambakkam SRO with a 2024 guideline value range from Rs 2,200 to Rs 7,150 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, placing INDIRA NAGAR - Pachaiyappan Street's 2024 value above that median.

• Jagadambal Lane: Rs 2,750 per sq.ft (2024)
• Jaibalaji Nagar: Rs 3,300 per sq.ft (2024)
• Jaibalaji Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Jaibalaji Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Jaibalaji Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Jaibalaji Nagar Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in INDIRA NAGAR - Pachaiyappan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, making the total cost for these fees Rs 3,46,500. 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 to estimate your costs.

Which Sub Registrar Office covers INDIRA NAGAR - Pachaiyappan Street?

The INDIRA NAGAR - Pachaiyappan Street falls under the jurisdiction of the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nesapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is conducted transparently.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legal documentation. Buyers and sellers must be aware of these values to ensure compliance with local regulations during the transaction.

Frequently asked questions

What is the current guideline value of INDIRA NAGAR - Pachaiyappan Street?

The current guideline value of INDIRA NAGAR - Pachaiyappan Street is Rs 3,850 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 300 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 1183% over this period.

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

Other streets in Nesapakkam have varying guideline values, with rates ranging from Rs 2,750 to Rs 3,300 per sq.ft for the year 2024.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2% of the guideline value or sale price.

Where can I find the Sub Registrar Office for this area?

The Virugambakkam Sub Registrar Office covers INDIRA NAGAR - Pachaiyappan Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.