Guideline Value for INDIRA NAGAR ELLA RAJAMANIKAM STREET

Indira Nagar Ella Rajamanikam Street guideline value

The current guideline value for Indira Nagar Ella Rajamanikam 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 Ella Rajamanikam Street has changed

In the 2012 revision, the guideline value was Rs 1,500 per sq.ft. This figure remained the same until the 2017 revision, where it decreased to Rs 1,005 per sq.ft, marking a significant drop of 33%. Following this, the value increased to Rs 1,500 per sq.ft in the 2023 revision, and then to Rs 1,600 per sq.ft in the 2024 revision, reflecting a 7% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a slight increase of 7%. The 2017 revision was a low point for this street, with a 49% increase observed from 2017 to 2023. The register has no figures for the revisions in 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. The median guideline value for these streets is Rs 2,725 per sq.ft, indicating that the guideline value for Indira Nagar Ella Rajamanikam Street is below this median.

• Indira Nagar Cholan Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Gandhiji Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Cheran 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)
• Indira Nagar Anna Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Indira Nagar Ella Rajamanikam 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 charges to Rs 1,44,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Indira Nagar Ella Rajamanikam Street?

The Sub Registrar Office that covers Indira Nagar Ella Rajamanikam 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, within the Chengalpattu registration zone. You can find your SRO for further assistance.

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. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that all transactions are recorded accurately and transparently in the official registry.

Frequently asked questions

What is the current guideline value of Indira Nagar Ella Rajamanikam Street?

The current guideline value of Indira Nagar Ella Rajamanikam 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 increased 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 this street?

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

Where can I find information about the registration office?

The Selaiyur Sub Registrar Office covers this street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073. More information can be found through the provided link.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% applies to the guideline value.