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 1,600 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 M.G.R. Street has changed

The guideline value for Indira Nagar M.G.R. Street has seen several revisions over the years. In 2012, the value was Rs 1,500 per sq.ft, which decreased to Rs 1,005 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023. The most recent revision in 2024 has set the value at Rs 1,600 per sq.ft, marking a 7% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 7%. It is important to note that 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 have 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 M.G.R. Street is below this median.

• Indira Nagar Narashimman Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Masuthi Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Oodai Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Main Road: Rs 1,600 per sq.ft (2024)
• Indira Nagar Pallvan 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 M.G.R. 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 is charged at 7%, resulting in Rs 1,12,000, and the registration fee at 2% amounts to Rs 32,000. Together, the total cost for these fees would be Rs 1,44,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

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 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 an essential factor in the registration process when buying or selling property in Perumbakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property transaction.

When registering a property, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

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 1,600 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 of Indira Nagar M.G.R. Street?

Indira Nagar M.G.R. Street is classified as Residential Class II Type - II.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in Indira Nagar M.G.R. Street is charged at 7% of the guideline value or sale price, whichever is higher.

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

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