Guideline Value for INDIRA STREET

Indira Street guideline value

The current guideline value of Indira Street in Pallikaranai village is Rs 1,110 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - III.

How the guideline value of Indira Street has changed

Looking at the historical guideline values, in 2012, the value was Rs 1,000 per sq.ft. This figure decreased to Rs 670 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2024, the value increased by 66%, reaching the current rate of Rs 1,110 per sq.ft.

The register has no figures for the years 2023, 2007, 2003, and 2002 for Indira Street. Overall, comparing the 2012 and 2024 figures, there has been a slight increase of 11%.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, indicating that Indira Street's current value is below this median.

• Indra Gandhi Nagar: Rs 1,320 per sq.ft (2024)
• Indira Nagar 2nd Street: Rs 1,320 per sq.ft (2024)
• Indira Nagar 1st Street: Rs 1,320 per sq.ft (2024)
• Indira Nagar: Rs 1,320 per sq.ft (2024)
• Indhra Ammaiyar Street: Rs 2,200 per sq.ft (2024)
• Immanuvel Main Road: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Indira Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,110 per sq.ft, the total guideline value would be Rs 11,10,000. The stamp duty at 7% would be Rs 77,700, and the registration fee at 2% would be Rs 22,200, making the total cost for these fees Rs 99,900. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Indira Street?

The Sub Registrar Office that covers Indira Street 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 information.

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

The guideline value is a crucial reference for determining the minimum price at which property transactions can be registered. When buying or selling property, this value helps in assessing the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the guideline value to ensure compliance with legal requirements during the registration process. This value serves as a benchmark for property transactions in the area.

Frequently asked questions

What is the current guideline value of Indira Street?

The current guideline value of Indira Street is Rs 1,110 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has seen changes from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, and then up to Rs 1,110 per sq.ft in 2024. This represents an overall increase of 11% from 2012 to 2024.

What are the other streets in Pallikaranai with their guideline values?

Other streets in Pallikaranai include Indra Gandhi Nagar, Indira Nagar 1st and 2nd Streets, Indira Nagar, Indhra Ammaiyar Street, and Immanuvel Main Road, with values ranging from Rs 1,110 to Rs 2,200 per sq.ft.

What is the registration fee for property in Indira Street?

The registration fee is calculated based on the guideline value. For a property valued at Rs 11,10,000, the registration fee would be Rs 22,200, in addition to the stamp duty of Rs 77,700.

Which office handles registrations for Indira Street?

The registrations for Indira Street are handled by 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.