Guideline Value for INDIRA NAGAR

Indira Nagar guideline value

The current guideline value of Indira Nagar, located in Vengaivasal village under the Selaiyur SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed 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 2012 revision set the value at Rs 2,500 per sq.ft, which was followed by a decrease to Rs 1,675 per sq.ft in the 2017 revision. This was a significant drop of 33%. However, from 2017 to 2023, the value increased by 49% to reach Rs 2,500 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 2,700 per sq.ft, marking an 8% rise from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Vengaivasal

In Vengaivasal village, there are 117 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft. The median value is Rs 2,700 per sq.ft, which is equal to the guideline value of Indira Nagar.

• Indira Nagar Extentsion: Rs 3,700 per sq.ft (2024)
• Ishwaryam Garden: Rs 2,700 per sq.ft (2024)
• G.V.Nagar: Rs 2,400 per sq.ft (2024)
• Jayalakshmi Nagar: Rs 2,700 per sq.ft (2024)
• J C V Avenue: Rs 2,700 per sq.ft (2024)
• Gothandaraman Nagar: Rs 4,000 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 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 details.

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 Vengaivasal

The guideline value plays a crucial role during property registration in Vengaivasal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold. The guideline value is set by the Registration Department and is updated periodically to reflect changes in the market.

When a buyer or seller approaches the registration office, the guideline value is used to calculate the applicable fees. This ensures that the transaction is recorded accurately and in compliance with local regulations.

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 back 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 for Indira Nagar?

The land classification for Indira Nagar is Mixed Type - II.

What is the stamp duty rate in Indira Nagar?

The stamp duty rate in Indira Nagar is 7%, which is applied to the higher of the guideline value or the sale price during registration.

Where can I find the Sub Registrar Office for Indira Nagar?

The Sub Registrar Office for 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.