Guideline Value for INDIRA NAGAR IRANIYAVARMAN STREET

Indira Nagar Iraniyavarman Street guideline value

The current guideline value for Indira Nagar Iraniyavarman 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 Iraniyavarman Street has changed

The guideline value for Indira Nagar Iraniyavarman Street has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in 2017. In 2023, the value increased to Rs 1,500 per sq.ft, and the most recent revision in 2024 set the guideline value at Rs 1,600 per sq.ft, marking a 7% increase from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 7%. The significant change occurred between 2017 and 2023, where the value rose by 49%. Notably, there are no recorded 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, with a median value of Rs 2,725 per sq.ft. The guideline value for Indira Nagar Iraniyavarman Street is below this median.

• Indira Nagar Indira Gandhi Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Gangaiamman Koil Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Gangaiamman Koil Cross Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Mahendiravarman Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Gandhiji 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 Iraniyavarman 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 guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Indira Nagar Iraniyavarman Street?

The Sub Registrar Office covering Indira Nagar Iraniyavarman 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 details.

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

The guideline value is a crucial factor when registering property in Perumbakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

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

Frequently asked questions

What is the current guideline value for Indira Nagar Iraniyavarman Street?

The current guideline value for Indira Nagar Iraniyavarman 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 back 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 Iraniyavarman Street?

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

What are the other streets with the same guideline value in Perumbakkam?

Other streets in Perumbakkam with the same guideline value of Rs 1,600 per sq.ft include Indira Nagar Indira Gandhi Street, Indira Nagar Gangaiamman Koil Street, Indira Nagar Gangaiamman Koil Cross Street, Indira Nagar Mahendiravarman Street, Indira Nagar Gandhiji Street, and Indira Nagar Main Road.

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

Stamp duty for properties in Indira Nagar Iraniyavarman Street is calculated at 7% of the guideline value or 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.