Guideline Value for INDIRA NAGAR NARASHIMMAN STREET

Indira Nagar Narashimman Street guideline value

The current guideline value of Indira Nagar Narashimman Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Perumbakkam village, under the Selaiyur SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Indira Nagar Narashimman Street has changed

The guideline value for Indira Nagar Narashimman Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,600 per sq.ft, an increase from Rs 1,500 per sq.ft in 2023, marking a change of +7%. Prior to that, the 2017 revision recorded a value of Rs 1,005 per sq.ft, reflecting a significant increase of +49% from the previous 2023 figure. The 2012 revision had a guideline value of Rs 1,500 per sq.ft, which was a decrease of -33% from Rs 1,005 per sq.ft in 2017.

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, there are 225 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 4,800 per sq.ft. The median guideline value for these streets is Rs 2,725 per sq.ft, indicating that the 2024 guideline value of Indira Nagar Narashimman Street is below this median.

• Indira Nagar M.G.R. Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Oodai Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Pallvan Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Masuthi Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Pandian 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 Narashimman 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 fees together 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 based on your property details.

Which Sub Registrar Office covers Indira Nagar Narashimman Street?

The Indira Nagar Narashimman Street falls under the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 in Perumbakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

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

The current guideline value of Indira Nagar Narashimman 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 2023 to Rs 1,600 per sq.ft in 2024, a change of +7%. It was Rs 1,005 per sq.ft in 2017, which was a +49% increase from 2023.

What is the land classification for Indira Nagar Narashimman Street?

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

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, Chengalpattu registration zone.

How do I calculate stamp duty and registration fees?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for accurate calculations.