Guideline Value for INDIRA NAGAR CHOLAN STREET

Indira Nagar Cholan Street guideline value

The current guideline value of Indira Nagar Cholan 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 Cholan Street has changed

The guideline value for Indira Nagar Cholan Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023 and further rose to Rs 1,600 per sq.ft in 2024, marking a 7% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 7%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perumbakkam

In Perumbakkam, there are 225 streets under the Selaiyur SRO that carry a 2024 guideline value, 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 of Indira Nagar Cholan Street is below this median.

• Indira Nagar Cheran 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 Cholan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total cost for these fees to Rs 1,44,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Indira Nagar Cholan Street?

The Sub Registrar Office that covers Indira Nagar Cholan Street is 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair price.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Indira Nagar Cholan Street?

The current guideline value of Indira Nagar Cholan 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 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the land classification for Indira Nagar Cholan Street?

Indira Nagar Cholan Street is classified as Residential Class II Type - II.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Indira Nagar Cholan Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For a property valued at Rs 16,00,000, the stamp duty at 7% would be Rs 1,12,000.