Guideline Value for INDIRA NAGAR GANGAIAMMAN KOIL CROSS STREET

Indira Nagar Gangaiamman Koil Cross Street guideline value

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

How the guideline value of Indira Nagar Gangaiamman Koil Cross Street has changed

The guideline value for this street has seen several revisions over the years. The earliest revision available is from 2012, where the value was Rs 1,500 per sq.ft. This figure remained until the next revision in 2017, which saw a decrease to Rs 1,005 per sq.ft, representing a drop of 33%. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, and then further rose to Rs 1,600 per sq.ft in 2024, marking a 7% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the 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. The median value for these streets is Rs 2,725 per sq.ft, indicating that the guideline value for Indira Nagar Gangaiamman Koil Cross Street is below this median.

• Indira Nagar Gandhiji Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Gangaiamman Koil Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Indira Gandhi Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Iraniyavarman Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Ella Rajamanikam Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Mahendiravarman Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Indira Nagar Gangaiamman Koil Cross 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 to Rs 1,44,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Indira Nagar Gangaiamman Koil Cross Street?

The Sub Registrar Office that covers Indira Nagar Gangaiamman Koil Cross 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 of property transactions in Perumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling a property, the guideline value is used to calculate the applicable stamp duty and registration fees. The charges are based on the higher of the guideline value or the sale price, ensuring that the transaction is recorded accurately and transparently.

Frequently asked questions

What is the current guideline value for Indira Nagar Gangaiamman Koil Cross Street?

The current guideline value for Indira Nagar Gangaiamman Koil Cross 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 this street?

Indira Nagar Gangaiamman Koil Cross Street is classified as Residential Class II Type - II.

Where is the Selaiyur Sub Registrar Office located?

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 the stamp duty calculated for properties in this area?

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