Guideline Value for INDIRA NAGAR GANGAIAMMAN KOIL STREET

Indira Nagar Gangaiamman Koil Street guideline value

The current guideline value of Indira Nagar Gangaiamman Koil Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Perumbakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Class II Type - II.

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

The guideline value for Indira Nagar Gangaiamman Koil Street has undergone several revisions over the years. The 2012 revision recorded a value of Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, and it further rose to the current value of Rs 1,600 per sq.ft in the 2024 revision. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023 and by 7% from 2023 to 2024. However, there was a decrease of 33% from 2012 to 2017. 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 carry a guideline value for 2024, 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 Gangaiamman Koil Street is below this median.

• Indira Nagar Gangaiamman Koil Cross Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Indira Gandhi Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Gandhiji 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 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, charged at 7%, would be Rs 1,12,000, while the registration fee at 2% would be Rs 32,000. Together, the total cost for stamp duty and registration would be 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 on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Indira Nagar Gangaiamman Koil Street?

The Sub Registrar Office that covers Indira Nagar Gangaiamman Koil 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 more details.

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

The guideline value plays a crucial role during the registration process of property transactions in Perumbakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can impact the overall cost of the transaction.

Frequently asked questions

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

The current guideline value of Indira Nagar Gangaiamman Koil 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 Indira Nagar Gangaiamman Koil Street?

The land classification for Indira Nagar Gangaiamman Koil Street is Residential Class II Type - II.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office covering Indira Nagar Gangaiamman Koil Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

How is stamp duty calculated for properties in Perumbakkam?

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