Guideline Value for INDIRA STREET (SARDAR COLONY)

Indira Street (Sardar Colony) guideline value

The current guideline value of Indira Street (Sardar Colony) is Rs 4,620 per sq.ft, effective from 1 July 2024. This street is located in Ekkaduthangal village, under the Chennai South Joint I SRO, and is classified as Residential Class II Type - I.

How the guideline value of Indira Street (Sardar Colony) has changed

The guideline value for Indira Street (Sardar Colony) has undergone several revisions over the years. The earliest recorded figure is from 2002, where the value was Rs 699 per sq.ft. This increased to Rs 806 per sq.ft in 2003, marking a 15% rise. By 2007, the value had significantly increased to Rs 1,000 per sq.ft, reflecting a 24% increase from the previous revision. The 2012 revision saw the value rise to Rs 4,200 per sq.ft, which was a substantial 320% increase from 2007. However, the value decreased to Rs 2,814 per sq.ft in 2017, representing a decline of 33%.

In 2023, the guideline value was set at Rs 4,200 per sq.ft, and it saw an increase of 10% to reach the current value of Rs 4,620 per sq.ft in 2024. Overall, from 2002 to 2024, the guideline value has increased by 561%. There are no figures available for any revisions other than those mentioned above.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 3,080 to Rs 8,800 per sq.ft. The median guideline value is Rs 4,620 per sq.ft, which is the same as the current value for Indira Street (Sardar Colony).

• Jawaharlal Nehru Road: Rs 8,800 per sq.ft (2024)
• Jothi Nagar: Rs 4,620 per sq.ft (2024)
• Jothi Nagar 1st Cross St: Rs 3,520 per sq.ft (2024)
• Jothi Nagar 2nd Cross St: Rs 3,520 per sq.ft (2024)
• Jothi Nagar Main Rd: Rs 4,620 per sq.ft (2024)
• Kabilar Street: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Indira Street (Sardar Colony)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,620 per sq.ft, the total guideline value would be Rs 46,20,000. The stamp duty charged at 7% would amount to Rs 3,23,400, and the registration fee at 2% would be Rs 92,400. Therefore, the total cost for stamp duty and registration fee together would be Rs 4,15,800. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Indira Street (Sardar Colony)?

The Sub Registrar Office that covers Indira Street (Sardar Colony) is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process for property transactions in Ekkaduthangal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is considered alongside the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that all transactions adhere to the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Indira Street (Sardar Colony)?

The current guideline value of Indira Street (Sardar Colony) is Rs 4,620 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 699 per sq.ft in 2002 to Rs 4,620 per sq.ft in 2024, reflecting an overall increase of 561% over the years.

What is the stamp duty rate for property in Indira Street (Sardar Colony)?

The stamp duty rate for property in Indira Street (Sardar Colony) is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Indira Street (Sardar Colony)?

The Sub Registrar Office for Indira Street (Sardar Colony) is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the land classification for Indira Street (Sardar Colony)?

Indira Street (Sardar Colony) is classified as Residential Class II Type - I, which indicates its designation for residential purposes within the area.