Guideline Value for INDIRA NAGAR RAJIV GANDHI STREET

Indira Nagar Rajiv Gandhi Street guideline value

The current guideline value of Indira Nagar Rajiv Gandhi 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 Rajiv Gandhi Street has changed

Over the years, the guideline value for Indira Nagar Rajiv Gandhi Street has seen several revisions. The 2012 revision set the guideline value at Rs 1,500 per sq.ft, which remained the same in the following revision in 2017, when the value dropped to Rs 1,005 per sq.ft. The 2023 revision increased the value to Rs 1,500 per sq.ft, and the most recent 2024 revision raised it further to Rs 1,600 per sq.ft, marking a 7% increase from the previous year. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, there was a significant decrease of 33%, while from 2017 to 2023, the value surged 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, with guideline values ranging from Rs 850 to Rs 4,800 per sq.ft. The median value for these streets is Rs 2,725 per sq.ft, indicating that the 2024 guideline value of Rs 1,600 per sq.ft for Indira Nagar Rajiv Gandhi Street is below the median.

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

For a property measuring 1,000 sq.ft 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, bringing the total 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 the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Indira Nagar Rajiv Gandhi Street?

The Sub Registrar Office that covers Indira Nagar Rajiv Gandhi 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 is a critical factor in the registration process when buying or selling property in Perumbakkam. It determines the minimum value at which a property can be registered and is used to calculate the applicable stamp duty and registration fees.

When a property is sold, the transaction value must meet or exceed the guideline value to ensure compliance with legal requirements. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Indira Nagar Rajiv Gandhi Street?

The current guideline value of Indira Nagar Rajiv Gandhi Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has seen several revisions, with the most recent increase occurring from Rs 1,500 per sq.ft in 2023 to Rs 1,600 per sq.ft in 2024. The value has fluctuated significantly, with a notable decrease from 2012 to 2017.

What is the classification of Indira Nagar Rajiv Gandhi Street?

Indira Nagar Rajiv Gandhi Street is classified as Residential Class II Type - II, indicating its designation for residential purposes within the area.

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 stamp duty calculated for properties in this area?

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 a rate of 7%.