Guideline Value for INDIRA NAGAR VETRIVEL MURUGAN STREET

Indira Nagar Vetrivel Murugan Street guideline value

The current guideline value of Indira Nagar Vetrivel Murugan Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Perumbakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Indira Nagar Vetrivel Murugan Street has changed

Over the years, the guideline value for Indira Nagar Vetrivel Murugan Street has seen several revisions. The earliest recorded revision was in 2012, where the value was set at Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in 2017. The 2023 revision increased the value to Rs 1,500 per sq.ft, and the most recent revision in 2024 has raised it further to Rs 1,600 per sq.ft. There are no recorded figures for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%. Overall, comparing the figures from 2012 to 2024, the guideline value has seen a modest increase of 7%.

Guideline values in Perumbakkam

In Perumbakkam, there are 225 streets under the Selaiyur SRO that have 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. Indira Nagar Vetrivel Murugan Street's 2024 guideline value is below this median.

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

Stamp duty and registration fee for property in Indira Nagar Vetrivel Murugan 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, bringing the total cost 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.

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

Which Sub Registrar Office covers Indira Nagar Vetrivel Murugan Street?

The Sub Registrar Office covering Indira Nagar Vetrivel Murugan 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 further assistance.

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

The guideline value is a crucial factor in property transactions in Perumbakkam, as it determines the minimum price at which a property can be registered. It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with registration regulations.

During the registration process, the guideline value serves as a basis for calculating stamp duty and registration fees. This ensures that both parties in a transaction are aware of the financial implications tied to the property's value.

Frequently asked questions

What is the current guideline value of Indira Nagar Vetrivel Murugan Street?

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

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000, and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Which office handles registrations in this area?

The Selaiyur Sub Registrar Office is responsible for registrations in Indira Nagar Vetrivel Murugan Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai.

How is the guideline value determined?

The guideline value is determined by the Registration Department and is subject to revisions based on various factors. It is essential for property transactions and is used to calculate applicable duties and fees.