Guideline Value for INDIRA NAGAR PHASE-II

Indira Nagar Phase-II guideline value

The current guideline value of Indira Nagar Phase-II is Rs 100 per sq.ft, effective from 1 July 2024. This area is located in Siralapakkam village, under the Ponneri SRO, and is classified as Residential Class II Type - I.

How the guideline value of Indira Nagar Phase-II has changed

Looking back at the revisions, the guideline value was Rs 67 per sq.ft in 2017. It then increased to Rs 100 per sq.ft in both the 2023 and 2024 revisions, reflecting a significant change of 49% from 2017 to 2023 and an overall increase of 49% from 2017 to 2024. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Between the 2023 and 2024 revisions, there was no change, with the guideline value remaining at Rs 100 per sq.ft. This stability follows the previous increase from Rs 67 per sq.ft in 2017 to Rs 100 per sq.ft in 2023, marking a substantial rise in the guideline value over the years.

Guideline values in Siralapakkam

Currently, there are no specific village figures available for Siralapakkam. Indira Nagar Phase-II is part of this area, and there are no other streets in Siralapakkam listed under the Ponneri SRO.

Stamp duty and registration fee for property in Indira Nagar Phase-II

For a 1,000 sq.ft plot at the current rate of Rs 100 per sq.ft, the guideline value amounts to Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, making the total Rs 9,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Indira Nagar Phase-II?

The Sub Registrar Office that covers Indira Nagar Phase-II is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Siralapakkam

The guideline value is a crucial factor during the registration process when buying or selling property in Siralapakkam. It determines the minimum value at which a property can be registered, impacting the stamp duty and registration fees payable.

When you proceed with a transaction, the guideline value serves as a benchmark to ensure that the property is not undervalued. This helps in maintaining transparency in property transactions and ensures that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Indira Nagar Phase-II?

The current guideline value of Indira Nagar Phase-II is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 67 per sq.ft to Rs 100 per sq.ft in both 2023 and 2024, marking a 49% increase overall.

What are the stamp duty and registration fees for properties in Indira Nagar Phase-II?

For a 1,000 sq.ft plot at the current guideline value of Rs 100 per sq.ft, the total stamp duty and registration fees would amount to Rs 9,000, which includes Rs 7,000 for stamp duty and Rs 2,000 for registration fee.

Where is the Sub Registrar Office for Indira Nagar Phase-II located?

The Ponneri Sub Registrar Office covers Indira Nagar Phase-II and is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

What land classification does Indira Nagar Phase-II fall under?

Indira Nagar Phase-II is classified as Residential Class II Type - I, indicating its use for residential purposes.