Guideline Value for INDIRA NAGAR MAHENDIRAVARMAN STREET

Indira Nagar Mahendiravarman Street guideline value

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

The guideline value for Indira Nagar Mahendiravarman Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was later adjusted to Rs 1,005 per sq.ft in the 2017 revision, marking a decrease of 33%. Following this, the 2023 revision increased the value to Rs 1,500 per sq.ft, and the latest 2024 revision has further raised it to Rs 1,600 per sq.ft, reflecting a 7% increase from the previous year.

Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 7%.

Guideline values in Perumbakkam

In Perumbakkam, a total of 225 streets under the Selaiyur SRO 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. Indira Nagar Mahendiravarman Street's 2024 guideline value of Rs 1,600 per sq.ft is below this median.

• Indira Nagar Main Road: Rs 1,600 per sq.ft (2024)
• Indira Nagar Masuthi Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Iraniyavarman Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Indira Gandhi Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar M.G.R. Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Gangaiamman Koil Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Indira Nagar Mahendiravarman Street

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the 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, totaling 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 also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Indira Nagar Mahendiravarman Street?

The Sub Registrar Office that covers Indira Nagar Mahendiravarman 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 during property registration in Perumbakkam. It serves as a benchmark for determining the amount of stamp duty and registration fees that need to be paid when purchasing or selling property in this area.

Frequently asked questions

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

The current guideline value of Indira Nagar Mahendiravarman 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 are the stamp duty and registration fees for property transactions?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000, and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Which Sub Registrar Office handles registrations for this street?

The Selaiyur Sub Registrar Office handles registrations for Indira Nagar Mahendiravarman Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

How is the guideline value determined for properties?

The guideline value is determined by the Registration Department and is based on various factors, including land classification and location. It serves as a reference for calculating stamp duty and registration fees during property transactions.