Guideline Value for INDIRA NAGAR 1 TO 8 STREETS

Indira Nagar 1 To 8 Streets guideline value

The current guideline value for Indira Nagar 1 To 8 Streets is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is located in Nanmangalam village under the Pallavaram SRO, classified as Residential Class I Type - III.

How the guideline value of Indira Nagar 1 To 8 Streets has changed

The guideline value for this street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 1,800 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased by 33% to Rs 1,206 per sq.ft. The next revision in 2023 increased the value significantly to Rs 1,800 per sq.ft, marking a 49% increase. The most recent revision in 2024 has raised the guideline value to Rs 1,980 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Nanmangalam

Nanmangalam village has a total of 139 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,960 to Rs 3,850 per sq.ft, with a median value of Rs 2,750 per sq.ft. The guideline value for Indira Nagar 1 To 8 Streets is below this median.

• INDRA NAGAR(NEAR BY SITHARTH NAGAR 1st STREET): Rs 1,980 per sq.ft (2024)
• Iyyappa Nagar: Rs 3,850 per sq.ft (2024)
• Hasthinapuram Salai 1 To 10 Streets: Rs 1,960 per sq.ft (2024)
• Hasthinapuram Salai: Rs 1,960 per sq.ft (2024)
• Jaiganesh Nagar Part-I: Rs 3,300 per sq.ft (2024)
• G.P. Samy Nagar Layout: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Indira Nagar 1 To 8 Streets

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total fees to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Indira Nagar 1 To 8 Streets?

The Sub Registrar Office that covers Indira Nagar 1 To 8 Streets is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process of property transactions in Nanmangalam. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees payable at the time of registration.

When buying or selling property, the guideline value helps ensure that the transaction is recorded at a fair value, reflecting the current market conditions as per the government’s assessment. This value is essential for both buyers and sellers to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value for Indira Nagar 1 To 8 Streets?

The current guideline value for Indira Nagar 1 To 8 Streets is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then increased to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,980 per sq.ft in 2024.

What is the land classification for Indira Nagar 1 To 8 Streets?

The land classification for Indira Nagar 1 To 8 Streets is Residential Class I Type - III.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 19,80,000, the stamp duty is Rs 1,38,600, and the registration fee is Rs 39,600, totaling Rs 1,78,200.

Which office handles registrations for Indira Nagar 1 To 8 Streets?

The Pallavaram Sub Registrar Office handles registrations for Indira Nagar 1 To 8 Streets, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.