Guideline Value for INDIRAGANDHI STREET

Indiragandhi Street guideline value

The current guideline value of Indiragandhi Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Okkiyamthuraipakkam village, under the Neelankarai SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Indiragandhi Street has changed

The guideline value of Indiragandhi Street has undergone several revisions over the years. In 2012, the guideline value was Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, and then rose again to the current rate of Rs 2,800 per sq.ft in 2024. There are no figures available for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the guideline value increased by 49%. The overall change from 2012 to 2024 reflects a modest increase of 12%.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which means that Indiragandhi Street's 2024 figure is below the median.

• INDIRA ENCLAVE 4th STREET: Rs 3,900 per sq.ft (2024)
• Indira Enclave: Rs 3,900 per sq.ft (2024)
• INDIRA ENCALVE 8th STREET: Rs 3,900 per sq.ft (2024)
• INDIRA ENCALVE 7th STREET: Rs 3,900 per sq.ft (2024)
• INDIRA ENCALVE 6th STREET: Rs 3,900 per sq.ft (2024)
• INDIRA ENCALVE 5th STREET: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Indiragandhi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, making a total of Rs 2,52,000. Please note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Indiragandhi Street?

The Sub Registrar Office that covers Indiragandhi Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Okkiyamthuraipakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the property registration process.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately, reflecting the value of the property as per the official register. This helps maintain transparency in property transactions and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Indiragandhi Street?

The current guideline value of Indiragandhi Street is Rs 2,800 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 2,800 per sq.ft in 2024.

What is the median guideline value in Okkiyamthuraipakkam?

The median guideline value in Okkiyamthuraipakkam is Rs 3,300 per sq.ft, which is higher than the current value of Indiragandhi Street.

What are the stamp duty and registration fees for property in Indiragandhi Street?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 2,52,000 based on the current guideline value.

Where can I find the Sub Registrar Office for Indiragandhi Street?

The Neelankarai Sub Registrar Office covers Indiragandhi Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.