Guideline Value for INDIRANI CROSS STREET

Indirani Cross Street guideline value

The current guideline value of Indirani Cross Street is Rs 5,300 per sq.ft, effective from 1 July 2024. It is located in Arumbakkam village under the Kodambakkam SRO, classified as Residential Class II Type - I.

How the guideline value of Indirani Cross Street has changed

Over the years, the guideline value of Indirani Cross Street has seen several revisions. The 2012 revision set the value at Rs 4,900 per sq.ft, which was then reduced to Rs 3,283 per sq.ft in the 2017 revision. However, this figure saw a significant increase in the subsequent revisions, with the 2023 revision at Rs 4,900 per sq.ft and the current 2024 revision at Rs 5,300 per sq.ft, marking an increase of 8% from the previous year.

From the 2017 revision to the 2023 revision, there was a substantial increase of 49%. Overall, comparing the 2012 revision to the current 2024 revision, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 6,000 per sq.ft, indicating that the 2024 figure for Indirani Cross Street is below this median.

• Indira Gandhi Street: Rs 4,700 per sq.ft (2024)
• Indian Bank Colony: Rs 4,400 per sq.ft (2024)
• Jaganathan Nagar: Rs 6,000 per sq.ft (2024)
• Jaganathan Nagar II Nd Main Road: Rs 6,000 per sq.ft (2024)
• Jaganathan Nagar I St Main Road: Rs 6,000 per sq.ft (2024)
• Jaganathan Street: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Indirani Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,300 per sq.ft, the total guideline value amounts to Rs 53,00,000. The stamp duty, calculated at 7%, would be Rs 3,71,000, while the registration fee at 2% would be Rs 1,06,000, bringing the total to Rs 4,77,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Indirani Cross Street?

The Sub Registrar Office that covers Indirani Cross Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Arumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is referenced to ascertain the applicable charges. Buyers should be aware that the guideline value may differ from the actual sale price, but the duty is charged on the higher of the two amounts.

Frequently asked questions

What is the current guideline value of Indirani Cross Street?

The current guideline value of Indirani Cross Street is Rs 5,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,900 per sq.ft in 2012 to Rs 3,283 per sq.ft in 2017, then back to Rs 4,900 per sq.ft in 2023, and is now Rs 5,300 per sq.ft in 2024.

What is the land classification for Indirani Cross Street?

Indirani Cross Street is classified as Residential Class II Type - I under the Kodambakkam SRO.

Where can I find the Sub Registrar Office for Indirani Cross Street?

The Kodambakkam Sub Registrar Office, which covers Indirani Cross Street, is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is stamp duty calculated for property in Indirani Cross Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 53,00,000, the stamp duty would be Rs 3,71,000.