Guideline Value for INDIRA NAGAR 2ND STREET

Indira Nagar 2nd Street guideline value

The current guideline value of Indira Nagar 2nd Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Indira Nagar 2nd Street has changed

Looking at the revisions, the guideline value for Indira Nagar 2nd Street has changed significantly over the years. In 2012, the 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 by 49% to reach Rs 1,200 per sq.ft, and the latest revision in 2024 has set the value at Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year.

The register does not contain figures for the years 2002, 2003, and 2007 for this street. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 10%.

Guideline values in Pallikaranai

Pallikaranai has a total of 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, which means that the 2024 figure for Indira Nagar 2nd Street is below the median.

• Indira Nagar 1st Street: Rs 1,320 per sq.ft (2024)
• Indira Nagar: Rs 1,320 per sq.ft (2024)
• Indira Street: Rs 1,110 per sq.ft (2024)
• Indra Gandhi Nagar: Rs 1,320 per sq.ft (2024)
• Indhra Ammaiyar Street: Rs 2,200 per sq.ft (2024)
• Immanuvel Main Road: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Indira Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total charges Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Indira Nagar 2nd Street?

The Sub Registrar Office that covers Indira Nagar 2nd Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in the property registration process in Pallikaranai. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these charges are based on the official valuation rather than the sale price alone.

When buying or selling property, it is essential to be aware of the guideline value, as it directly influences the total cost involved in the transaction. Buyers and sellers should consult the latest figures to understand their financial obligations during registration.

Frequently asked questions

What is the current guideline value of Indira Nagar 2nd Street?

The current guideline value of Indira Nagar 2nd Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with a significant decrease from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, followed by an increase to Rs 1,200 per sq.ft in 2023 and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Indira Nagar 2nd Street?

The land classification for Indira Nagar 2nd Street is Residential Class IV Type - II.

What is the median guideline value in Pallikaranai?

The median guideline value in Pallikaranai is Rs 1,650 per sq.ft, which indicates that the guideline value for Indira Nagar 2nd Street is below this median.

Where is the Sub Registrar Office for Indira Nagar 2nd Street located?

The Sub Registrar Office for Indira Nagar 2nd Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.