Guideline Value for INDIRA NAGAR RAJAJI STREET

Indira Nagar Rajaji Street guideline value

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

The guideline value for Indira Nagar Rajaji 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 the 2023 revision, 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 that year to 2023. The 2012 revision also had a value of Rs 1,500 per sq.ft, which was a decrease of -33% from the 2017 figure. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Overall, from the 2012 revision to the current 2024 revision, the guideline value has increased by +7%. The fluctuations highlight the changes in property valuation over time, with the most substantial increase occurring between 2017 and 2023.

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 figure for Indira Nagar Rajaji Street is below this median.

• Indira Nagar Rajashimman Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Pillaiyar Koil Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Rajiv Gandhi Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Periyar Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Simmavarman Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Vetrivel Murugan Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Indira Nagar Rajaji 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, resulting in a total of 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.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Indira Nagar Rajaji Street?

The Sub Registrar Office that covers Indira Nagar Rajaji 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, within 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 plays a crucial role in the registration process of property transactions in Perumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the sale price is not undervalued for tax purposes.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial implications of the transaction based on the officially recognized value of the property.

Frequently asked questions

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

The current guideline value of Indira Nagar Rajaji 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, an increase of +7%. It 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 Rajaji Street?

Indira Nagar Rajaji 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 properties in Perumbakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 16,00,000 would incur a stamp duty of Rs 1,12,000 at the rate of 7%.