Guideline Value for INDIRA NAGAR CHERAN STREET

Indira Nagar Cheran Street guideline value

The current guideline value for Indira Nagar Cheran Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Perumbakkam village under the Selaiyur SRO and is classified as Residential Class II Type - II.

How the guideline value of Indira Nagar Cheran Street has changed

Over the years, the guideline value for Indira Nagar Cheran Street has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which was a decrease of 33% from the previous revision in 2017, where the value was Rs 1,005 per sq.ft. The next revision in 2023 increased the value to Rs 1,500 per sq.ft, and the current revision for 2024 has raised it to Rs 1,600 per sq.ft, marking a 7% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 7%.

Guideline values in Perumbakkam

In Perumbakkam, there are 225 streets under the Selaiyur SRO that have a guideline value for 2024 ranging from Rs 850 to Rs 4,800 per sq.ft, with a median value of Rs 2,725 per sq.ft. The guideline value for Indira Nagar Cheran Street is below this median.

• Indira Nagar Cholan Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Anna Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Ella Rajamanikam Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Gandhiji Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Gangaiamman Koil Cross Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Gangaiamman Koil Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Indira Nagar Cheran Street

For a 1,000 sq.ft plot at the current guideline value, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Indira Nagar Cheran Street?

The Indira Nagar Cheran Street is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Perumbakkam, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during the registration process. The guideline value serves as a reference point for both parties to negotiate the sale price, ensuring transparency and fairness in the transaction.

Frequently asked questions

What is the current guideline value for Indira Nagar Cheran Street?

The current guideline value for Indira Nagar Cheran Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2023 to Rs 1,600 per sq.ft in 2024, a 7% increase. It was Rs 1,005 per sq.ft in 2017, and Rs 1,500 per sq.ft in 2012, showing various fluctuations over the years.

Which Sub Registrar Office covers Indira Nagar Cheran Street?

The Selaiyur Sub Registrar Office covers Indira Nagar Cheran Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 16,00,000, the total fees would amount to Rs 1,44,000.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value of a property, which affects the calculation of stamp duty and registration fees. It ensures that both buyers and sellers are aware of the legal requirements during property transactions.