Guideline Value for INDIRA NAGAR RAJASHIMMAN STREET

Indira Nagar Rajashimman Street guideline value

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

How the guideline value of Indira Nagar Rajashimman Street has changed

The guideline value for Indira Nagar Rajashimman Street has undergone several revisions over the years. In 2012, the guideline value was Rs 1,500 per sq.ft, which decreased to Rs 1,005 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, and then to Rs 1,600 per sq.ft in 2024, marking a 7% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decline of 33%, but from 2017 to 2023, the value rose by 49%. 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 that carry 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 for Indira Nagar Rajashimman Street is below this median.

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

Stamp duty and registration fee for property in Indira Nagar Rajashimman 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 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 more details.

Which Sub Registrar Office covers Indira Nagar Rajashimman Street?

The Sub Registrar Office that covers Indira Nagar Rajashimman 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 plays a crucial role in property transactions in Perumbakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on the guideline value or the sale price, whichever is higher.

When a property is bought or sold, the guideline value ensures transparency and standardization in property transactions. It is essential for both parties to be aware of the current guideline value to avoid disputes and ensure compliance with legal requirements during the registration process.

Frequently asked questions

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

The current guideline value of Indira Nagar Rajashimman 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 to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the land classification of Indira Nagar Rajashimman Street?

Indira Nagar Rajashimman Street is classified as Residential Class II Type - II.

What is the range of guideline values for other streets in Perumbakkam?

In Perumbakkam, the guideline values for other streets range from Rs 850 to Rs 4,800 per sq.ft, with a median value of Rs 2,725 per sq.ft.

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.