Guideline Value for INDIRA NAGAR 3RD CROSS STREET

Indira Nagar 3rd Cross Street guideline value

The current guideline value of Indira Nagar 3rd Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, classified as Residential Class IV Type - I.

How the guideline value of Indira Nagar 3rd Cross Street has changed

The guideline value for Indira Nagar 3rd Cross Street has seen several revisions over the years. The 2007 revision set the value at Rs 550 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a rise of 264%. However, in the 2017 revision, the value decreased to Rs 1,340 per sq.ft, reflecting a drop of 33%. The value then rose to Rs 2,000 per sq.ft in 2023, a notable increase of 49%, before reaching the current rate of Rs 2,200 per sq.ft in 2024, which is a 10% increase from the previous year. There are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that have a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value for Indira Nagar 3rd Cross Street is below this median.

• Indira Nagar 4th Cross Street: Rs 2,200 per sq.ft (2024)
• Indira Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Indira Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Indira Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Indira Nagar 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Indira Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Indira Nagar 3rd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Indira Nagar 3rd Cross Street?

The Sub Registrar Office that covers Indira Nagar 3rd Cross Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Perambur. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When a property is sold or purchased, the guideline value is compared with the sale price. The higher value is used to calculate the applicable duties and fees, ensuring that the transaction is recorded accurately in the official register.

Frequently asked questions

What is the current guideline value of Indira Nagar 3rd Cross Street?

The current guideline value of Indira Nagar 3rd Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 550 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 300% over the years.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles registrations for Indira Nagar 3rd Cross Street?

The Purasaivakkam Sub Registrar Office handles registrations for Indira Nagar 3rd Cross Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification for Indira Nagar 3rd Cross Street?

Indira Nagar 3rd Cross Street is classified as Residential Class IV Type - I under the current guidelines.