Guideline Value for INDIRA NAGAR

Indira Nagar guideline value

The current guideline value of Indira Nagar, located in Thirusulam village under the Pallavaram SRO, is Rs 1,940 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Indira Nagar has changed

Over the years, the guideline value of Indira Nagar has seen several revisions. The 2012 revision set the value at Rs 1,800 per sq.ft, which was then reduced to Rs 1,206 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back up to Rs 1,800 per sq.ft. The most recent 2024 revision has further increased the guideline value to Rs 1,940 per sq.ft, marking an 8% rise from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, comparing the 2012 figure to the 2024 figure shows an increase of 8% over this period.

Guideline values in Thirusulam

In Thirusulam, there are a total of 74 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,080 to Rs 2,750 per sq.ft. The median guideline value is Rs 1,940 per sq.ft, which is the same as the current value for Indira Nagar.

• Indira Nagar Annai Indira Gandhi Street: Rs 1,940 per sq.ft (2024)
• Indira Nagar Bharthi Street: Rs 1,940 per sq.ft (2024)
• Indira Nagar M.G.R Street: Rs 1,940 per sq.ft (2024)
• Harbour Main Road: Rs 1,940 per sq.ft (2024)
• Govt Group House Highway Salai 1,2,3: Rs 1,940 per sq.ft (2024)
• Govt Group House 1 To 4 Streets: Rs 1,940 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 1,940 per sq.ft, the total guideline value would be Rs 19,40,000. The stamp duty at 7% would amount to Rs 1,35,800, while the registration fee at 2% would be Rs 38,800, bringing the total to Rs 1,74,600. 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?

The Sub Registrar Office that covers Indira Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, 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 Thirusulam

The guideline value is a crucial factor during the registration of property transactions in Thirusulam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value as it impacts the overall costs involved in the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any complications during registration.

Frequently asked questions

What is the current guideline value of Indira Nagar?

The current guideline value of Indira Nagar is Rs 1,940 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then increased to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,940 per sq.ft in 2024.

What is the land classification for Indira Nagar?

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

What are the stamp duty and registration fees for property in Indira Nagar?

The stamp duty is charged at 7%, and the registration fee is charged at 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Indira Nagar located?

The Sub Registrar Office for Indira Nagar is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone.