Guideline Value for INDIRA NAGAR

Indira Nagar guideline value

The current guideline value for Indira Nagar, located in Salavakkam village under the Salavakkam SRO, is Rs 175 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - II.

How the guideline value of Indira Nagar has changed

The guideline value for Indira Nagar has seen several revisions over the years. The earliest recorded figure is from 2007, which was Rs 50 per sq.ft. This value increased significantly by 250% to Rs 175 per sq.ft in 2012. However, it then decreased by 33% to Rs 117 per sq.ft in 2017. The value remained at Rs 175 per sq.ft in 2023 and again in the 2024 revision, indicating no change from the previous year.

In summary, the guideline value has increased from Rs 50 per sq.ft in 2007 to Rs 175 per sq.ft in 2024, representing an overall increase of 250%. The revisions for the years 2002 and 2003 do not have any figures recorded for this street.

Guideline values in Salavakkam

In Salavakkam, there are 38 streets under the Salavakkam SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 250 per sq.ft. The median value for these streets is Rs 150 per sq.ft, placing Indira Nagar's current value above this median.

• Inamthar Street: Rs 126 per sq.ft (2024)
• Jai Nagar: Rs 126 per sq.ft (2024)
• Kammala Street: Rs 150 per sq.ft (2024)
• Karuneegar Street: Rs 150 per sq.ft (2024)
• Dhanalakshmi Nagar Extension -I: Rs 200 per sq.ft (2024)
• Dhanalakshmi Nagar: Rs 126 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 175 per sq.ft, the total guideline value amounts to Rs 1,75,000. The stamp duty, charged at 7%, would be Rs 12,250, and the registration fee at 2% would be Rs 3,500, bringing the total fees to Rs 15,750. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, 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 Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Salavakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers and sellers must consider this value to ensure compliance with local regulations and to avoid any legal issues during the transaction.

Frequently asked questions

What is the current guideline value for Indira Nagar?

The current guideline value for Indira Nagar is Rs 175 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 50 per sq.ft in 2007 to Rs 175 per sq.ft in 2024, with various revisions occurring in between.

What is the classification of land in Indira Nagar?

Indira Nagar is classified as Residential Class I Type - II, indicating its suitability for residential development.

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

For a property valued at Rs 1,75,000, the stamp duty would be Rs 12,250 and the registration fee would be Rs 3,500, totaling Rs 15,750.

Where is the Sub Registrar Office for Indira Nagar located?

The Sub Registrar Office for Indira Nagar is located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.