Guideline Value for INDIRA NAGAR VISHNUVARMAN STREET

Indira Nagar Vishnuvarman Street guideline value

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

The guideline value for Indira Nagar Vishnuvarman Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in the 2017 revision, marking a decrease of 33%. However, the value saw a significant increase to Rs 1,500 per sq.ft in the 2023 revision, followed by another increase to Rs 1,600 per sq.ft in the 2024 revision, reflecting a 7% rise from the previous year.

From the 2017 revision to the 2023 revision, the increase was notable at 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 7%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

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. The median value for these streets is Rs 2,725 per sq.ft, indicating that the guideline value for Indira Nagar Vishnuvarman Street is below this median.

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

Stamp duty and registration fee for property in Indira Nagar Vishnuvarman 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, bringing the total to 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 Vishnuvarman Street?

The Sub Registrar Office that covers Indira Nagar Vishnuvarman 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, 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 during the registration of property transactions in Perumbakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the state receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers must pay these fees based on the higher of the guideline value or the sale price, which helps maintain transparency in property transactions.

Frequently asked questions

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

The current guideline value of Indira Nagar Vishnuvarman 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 increased 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 Vishnuvarman Street?

The land classification for Indira Nagar Vishnuvarman Street is Residential Class II Type - II.

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

The Sub Registrar Office covering Indira Nagar Vishnuvarman Street is located at No.36, Bharathmatha Salai, 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, for a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 at 7%.