Guideline Value for INDIRA NAGAR M.G.R STREET

Indira Nagar M.G.R Street guideline value

The current guideline value of Indira Nagar M.G.R Street is Rs 1,940 per sq.ft, effective from 1 July 2024. This street is located in Thirusulam village under the Pallavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Indira Nagar M.G.R Street has changed

The guideline value for Indira Nagar M.G.R Street has undergone several revisions over the years. The earliest available figure is from 2012, which was Rs 1,800 per sq.ft. This was followed by a decrease to Rs 1,206 per sq.ft in 2017. The 2023 revision increased the value to Rs 1,800 per sq.ft, and the most recent 2024 revision set it at Rs 1,940 per sq.ft.

From 2017 to 2023, the guideline value increased by 49%, while from 2023 to 2024, there was an increase of 8%. Overall, from 2012 to 2024, the guideline value has seen an increase of 8%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Thirusulam

In Thirusulam, there are 74 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,080 to Rs 2,750 per sq.ft. The median value for these streets is Rs 1,940 per sq.ft, which is the same as the guideline value for Indira Nagar M.G.R Street.

• Indira Nagar Bharthi Street: Rs 1,940 per sq.ft (2024)
• Indira Nagar Annai Indira Gandhi Street: Rs 1,940 per sq.ft (2024)
• Indira Nagar: Rs 1,940 per sq.ft (2024)
• Harbour Main Road: Rs 1,940 per sq.ft (2024)
• Govt Group House Hghway Salai 1,2,3: Rs 1,940 per sq.ft (2024)
• Govt Group House 1 To 4 Streets: Rs 1,940 per sq.ft (2024)

Stamp duty and registration fee for property in Indira Nagar M.G.R Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,940 per sq.ft, the total guideline value would be Rs 19,40,000. The stamp duty at 7% would amount to Rs 1,35,800, and the registration fee at 2% would be Rs 38,800, totaling Rs 1,74,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Indira Nagar M.G.R Street?

The Sub Registrar Office that covers Indira Nagar M.G.R Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, 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 Thirusulam

The guideline value plays a crucial role in the registration process when buying or selling property in Thirusulam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded accurately and that the appropriate fees are collected based on the established rates. This helps maintain transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Indira Nagar M.G.R Street?

The current guideline value of Indira Nagar M.G.R Street is Rs 1,940 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then increased to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,940 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 19,40,000, the stamp duty would be Rs 1,35,800, and the registration fee would be Rs 38,800, totaling Rs 1,74,600.

Which office handles registrations for Indira Nagar M.G.R Street?

The Pallavaram Sub Registrar Office handles registrations for Indira Nagar M.G.R Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

Where can I find more information about guideline values in Thirusulam?

More information about guideline values in Thirusulam can be found in the registration department's guideline value register, which provides details on various streets and their respective values.