Guideline Value for INDIRA NAGAR

Indira Nagar guideline value

The current guideline value of Indira Nagar, located in Chitthalapakkam village under the Selaiyur SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. This area falls under the Residential Special Type - I land classification.

How the guideline value of Indira Nagar has changed

The guideline value for Indira Nagar has seen several revisions over the years. In the 2012 revision, the value was set at Rs 2,500 per sq.ft. However, in the 2017 revision, it decreased to Rs 1,675 per sq.ft, marking a decline of 33%. The value then rose significantly to Rs 2,500 per sq.ft in the 2023 revision, and further increased by 8% to Rs 2,700 per sq.ft in the 2024 revision.

From 2012 to 2024, the overall change in guideline value is an increase of 8%. The 2023 revision to the 2024 revision reflects an 8% increase, while the jump from 2017 to 2023 shows a substantial increase of 49%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitthalapakkam

In Chitthalapakkam, there are 107 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 5,000 per sq.ft. The median value for these streets is Rs 2,900 per sq.ft, indicating that Indira Nagar's 2024 figure is below the median.

• Jayam Avenue: Rs 3,300 per sq.ft (2024)
• Jayanthi Nagar: Rs 2,700 per sq.ft (2024)
• Jothi Mangala Nagar: Rs 2,100 per sq.ft (2024)
• Jothi Mangala Nagar Extension: Rs 2,100 per sq.ft (2024)
• Kakanji Street: Rs 1,950 per sq.ft (2024)
• Kalaingar Street: Rs 1,950 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 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost for these fees to Rs 2,43,000. 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 detailed calculations.

Which Sub Registrar Office covers Indira Nagar?

The Sub Registrar Office that covers Indira Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration process of property transactions in Chitthalapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in the sale process.

When buying or selling property, the guideline value influences the calculation of stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Indira Nagar?

The current guideline value of Indira Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the land classification of Indira Nagar?

Indira Nagar is classified as Residential Special Type - I under the land classification system.

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

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

Where is the Sub Registrar Office for Indira Nagar located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.