Guideline Value for INDIRA NAGAR SIMMAVARMAN STREET

Indira Nagar Simmavarman Street guideline value

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

The guideline value for Indira Nagar Simmavarman Street has seen several revisions over the years. The register shows the following figures: Rs 1,500 per sq.ft in 2023, Rs 1,005 per sq.ft in 2017, and Rs 1,500 per sq.ft in 2012. There are no figures available for the years 2002, 2003, and 2007.

From 2012 to 2017, the value decreased by 33%, moving from Rs 1,500 to Rs 1,005. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value to Rs 1,500. The most recent revision from 2023 to 2024 reflects a 7% increase, resulting in the current value of Rs 1,600 per sq.ft.

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 of Indira Nagar Simmavarman Street is below this median.

• Indira Nagar Rajiv Gandhi Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Vetrivel Murugan Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Rajashimman Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Vishnuvarman Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Rajaji Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Vivekanandar 1st-5th Cross Street: Rs 1,600 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total 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, making the total cost for these fees Rs 1,44,000. Note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Indira Nagar Simmavarman Street?

The Sub Registrar Office that covers Indira Nagar Simmavarman 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 calculating the stamp duty and registration fees that buyers must pay during the property registration process.

When you buy or sell property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. It helps maintain transparency in property dealings and ensures compliance with local regulations.

Frequently asked questions

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

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

How has the guideline value changed over the years?

Over the years, the guideline value has changed as follows: Rs 1,500 per sq.ft in 2023, Rs 1,005 per sq.ft in 2017, and Rs 1,500 per sq.ft in 2012. There are no figures available for the years 2002, 2003, and 2007.

What is the land classification for this street?

Indira Nagar Simmavarman Street is classified as Residential Class II Type - II, which is relevant for determining its usage and development potential.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in this area is 7%, which is calculated based on the higher of the guideline value or the sale price of the property.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office covering Indira Nagar Simmavarman Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.