Guideline Value for INDIRA NAGAR-1st -ST

INDIRA NAGAR-1st -ST guideline value

The current guideline value of INDIRA NAGAR-1st -ST is Rs 750 per sq.ft, effective from 1 July 2024. This street is located in Walajabad village, under the Walajabad SRO, and is classified as Residential Class IV Type - I.

How the guideline value of INDIRA NAGAR-1st -ST has changed

Over the years, the guideline value for INDIRA NAGAR-1st -ST has seen various revisions. The 2012 revision set the value at Rs 750 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 502 per sq.ft. The subsequent revisions saw an increase, with the value rising to Rs 750 per sq.ft in both the 2023 and 2024 revisions, indicating a 49% increase from 2017 to 2023, but no change from 2023 to 2024. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%, but overall from 2012 to 2024, there has been no change, as the value returned to Rs 750 per sq.ft. This consistency in the recent revisions suggests stability in the guideline value for this street.

Guideline values in Walajabad

In Walajabad, there are 196 streets under the Walajabad SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,000 per sq.ft, with the median being Rs 750 per sq.ft. The guideline value for INDIRA NAGAR-1st -ST aligns perfectly with this median.

• INDIRA NAGAR-2st -ST: Rs 750 per sq.ft (2024)
• INDIRA NAGAR-3st -ST: Rs 750 per sq.ft (2024)
• Indira Nagar-Cross St: Rs 750 per sq.ft (2024)
• Indara Nager New Colony: Rs 750 per sq.ft (2024)
• Javulikadai Street: Rs 750 per sq.ft (2024)
• Jothikanniyamman Kovil Cross St: Rs 750 per sq.ft (2024)

Stamp duty and registration fee for property in INDIRA NAGAR-1st -ST

For a 1,000 sq.ft plot at the current guideline value of Rs 750 per sq.ft, the total guideline value amounts to Rs 7,50,000. The stamp duty at 7% would be Rs 52,500, and the registration fee at 2% would be Rs 15,000, bringing the total cost to Rs 67,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers INDIRA NAGAR-1st -ST?

The INDIRA NAGAR-1st -ST is covered by the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the property registration process in Walajabad. When buying or selling property, this value is used to determine the stamp duty and registration fees that must be paid. It ensures that the property is valued consistently across transactions, providing a standard for both buyers and sellers.

During the registration process, the guideline value is compared with the sale price of the property. The higher of the two values is used to calculate the applicable duties, ensuring that the government receives the correct amount based on the property's worth.

Frequently asked questions

What is the current guideline value of INDIRA NAGAR-1st -ST?

The current guideline value of INDIRA NAGAR-1st -ST is Rs 750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 750 per sq.ft from the 2012 revision to the 2024 revision, with a decrease to Rs 502 per sq.ft in 2017. There has been a 49% increase from 2017 to 2023, but no change from 2023 to 2024.

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

For a property valued at Rs 7,50,000, the stamp duty would be Rs 52,500, and the registration fee would be Rs 15,000, totaling Rs 67,500. These fees are based on the higher of the guideline value or the sale price.

Which Sub Registrar Office covers this street?

The Walajabad Sub Registrar Office covers INDIRA NAGAR-1st -ST, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

Are there other streets with the same guideline value in Walajabad?

Yes, several other streets in Walajabad also have a guideline value of Rs 750 per sq.ft in 2024, including INDIRA NAGAR-2st -ST, INDIRA NAGAR-3st -ST, and others.