Guideline Value for INDIRA NAGAR INDIRA GANDHI STREET

Indira Nagar Indira Gandhi Street guideline value

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

Over the years, the guideline value of Indira Nagar Indira Gandhi Street has seen several revisions. 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 the 2017 revision, reflecting a decrease of 33%. Following this, the value increased significantly to Rs 1,500 per sq.ft in the 2023 revision, and then to Rs 1,600 per sq.ft in the 2024 revision, marking a 7% increase from the previous year. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From the 2017 revision to the 2023 revision, the guideline value increased by 49%. When considering the overall change from the 2012 revision to the 2024 revision, the guideline value has increased by 7%.

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 Indira Gandhi Street is below this median.

• Indira Nagar Gangaiamman Koil Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Iraniyavarman Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Gangaiamman Koil Cross Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Gandhiji Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Mahendiravarman Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Main Road: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Indira Nagar Indira Gandhi 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 the 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 accurate calculations.

Which Sub Registrar Office covers Indira Nagar Indira Gandhi Street?

The Sub Registrar Office that covers Indira Nagar Indira Gandhi 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 when registering property transactions in Perumbakkam. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring transparency and fairness in property dealings.

When you buy or sell property, the guideline value influences the stamp duty and registration fees applicable to the transaction. This ensures that both buyers and sellers are aware of the costs involved based on the established guideline value.

Frequently asked questions

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

The current guideline value of Indira Nagar Indira Gandhi 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 seen several revisions, with the most recent being Rs 1,600 per sq.ft in 2024, an increase from Rs 1,500 per sq.ft in 2023. The value was previously Rs 1,005 per sq.ft in 2017 and Rs 1,500 per sq.ft in 2012.

What is the land classification of Indira Nagar Indira Gandhi Street?

Indira Nagar Indira Gandhi Street is classified as Residential Class II Type - II, indicating its suitability for residential development.

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 stamp duty calculated for properties in Indira Nagar Indira Gandhi Street?

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