Guideline Value for INDIRA NAGAR PANDIAN STREET

Indira Nagar Pandian Street guideline value

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

Over the years, the guideline value of Indira Nagar Pandian Street has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,500 per sq.ft in the 2023 revision, and currently stands at Rs 1,600 per sq.ft from the 2024 revision. The register has no figure for this street in the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, but the value rebounded with a 49% increase from 2017 to 2023. The change from 2023 to 2024 reflects a modest increase of 7%. Overall, from 2012 to 2024, the guideline value has seen an increase of 7%.

Guideline values in Perumbakkam

In Perumbakkam village, there are a total of 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 Pandian Street is below this median.

• Indira Nagar Pallvan Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Oodai Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Narashimman Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Periyar Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar M.G.R. Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Pillaiyar Koil Street: Rs 1,600 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, making the total charges Rs 1,44,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Indira Nagar Pandian Street?

The Sub Registrar Office that covers Indira Nagar Pandian 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 transactions in Perumbakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the property transfer process.

When a buyer or seller engages in a transaction, the guideline value helps ensure that the property is assessed fairly for taxation purposes. It is essential for both parties to 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 Pandian Street?

The current guideline value of Indira Nagar Pandian 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 seen various changes, with the most recent revision in 2024 increasing it to Rs 1,600 per sq.ft from Rs 1,500 per sq.ft in 2023. The value was Rs 1,005 per sq.ft in 2017 and Rs 1,500 per sq.ft in 2012.

What is the land classification for Indira Nagar Pandian Street?

Indira Nagar Pandian Street is classified as Residential Class II Type - II, indicating its suitability for residential purposes.

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.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the 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 at a rate of 7%.