Guideline Value for INDIRA NAGAR

Indira Nagar guideline value

The current guideline value of Indira Nagar, located in Perambur village under the Purasaivakkam SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class IV Type - I.

How the guideline value of Indira Nagar has changed

The guideline value for Indira Nagar has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 550 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a rise of 264%. However, it then dropped to Rs 1,340 per sq.ft in the 2017 revision, a decrease of 33%. The value then rose again to Rs 2,000 per sq.ft in 2023, reflecting a 49% increase, and finally reached Rs 2,200 per sq.ft in the 2024 revision, a 10% increase.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 300%.

Guideline values in Perambur

In Perambur village, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value for Indira Nagar is below this median.

• Indira Nagar 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Indira Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Indira Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Indira Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Indira Gandhi Nagr 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Indira Nagar 3rd Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Indira Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Indira Nagar?

The Indira Nagar area falls under the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perambur. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is documented accurately and that the property is valued fairly according to the current market regulations.

Frequently asked questions

What is the current guideline value of Indira Nagar?

The current guideline value of Indira Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 550 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, representing a total increase of 300% over this period.

What are the stamp duty rates in Indira Nagar?

The stamp duty in Indira Nagar is charged at a rate of 7% on the guideline value or sale price, whichever is higher.

Which Sub Registrar Office covers Indira Nagar?

The Purasaivakkam Sub Registrar Office covers Indira Nagar, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What are the other streets in Perambur with the same guideline value?

Other streets in Perambur with the same guideline value of Rs 2,200 per sq.ft include Indira Nagar 1st Cross Street, Indira Nagar 1st Street, Indira Nagar 2nd Cross Street, Indira Nagar 2nd Street, Indira Gandhi Nagr 1st Cross Street, and Indira Nagar 3rd Cross Street.