Guideline Value for INDIRA NAGAR 1ST ST

Indira Nagar 1st St guideline value

The current guideline value of Indira Nagar 1st St is Rs 1,625 per sq.ft, effective from 1 July 2024. This street is located in Paruthipattu village, under the Avadi SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Indira Nagar 1st St has changed

The guideline value for Indira Nagar 1st St has undergone several revisions over the years. In 2012, the guideline value was Rs 1,200 per sq.ft, which decreased to Rs 804 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, an increase of 87%. The most recent revision in 2024 set the value at Rs 1,625 per sq.ft, reflecting an 8% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 35%.

Guideline values in Paruthipattu

In Paruthipattu, there are 486 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 801 to Rs 4,730 per sq.ft. The median value for these streets is Rs 1,625 per sq.ft, which is equal to the guideline value of Indira Nagar 1st St.

• Indira Nagar 2nd St: Rs 1,625 per sq.ft (2024)
• Indiran Gandhi St Konambedu: Rs 950 per sq.ft (2024)
• Indira St: Rs 950 per sq.ft (2024)
• Indira Gandhi Nagar: Rs 1,625 per sq.ft (2024)
• Ideal Home In M.R.Garden: Rs 1,625 per sq.ft (2024)
• Iyappan Koil St: Rs 1,625 per sq.ft (2024)

Stamp duty and registration fee for property in Indira Nagar 1st St

For a 1,000 sq.ft plot at the current rate of Rs 1,625 per sq.ft, the guideline value would be Rs 16,25,000. The stamp duty at 7% would amount to Rs 1,13,750, and the registration fee at 2% would be Rs 32,500, making the total Rs 1,46,250. It is important to note that 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 accurate calculations.

Which Sub Registrar Office covers Indira Nagar 1st St?

The Sub Registrar Office that covers Indira Nagar 1st St is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Paruthipattu. It serves as a benchmark for determining the minimum value at which property can be registered. This value is used to calculate the stamp duty and registration fees that are payable during the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, reflecting the current market conditions as assessed by the authorities. Buyers and sellers should be aware of this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Indira Nagar 1st St?

The current guideline value of Indira Nagar 1st St is Rs 1,625 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,625 per sq.ft in 2024.

What is the land classification for Indira Nagar 1st St?

The land classification for Indira Nagar 1st St is Residential Special Type - I.

Where is the Sub Registrar Office for Indira Nagar 1st St located?

The Avadi Sub Registrar Office is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is the stamp duty calculated for properties in Indira Nagar 1st St?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty and registration fee of Rs 1,46,250.