Guideline Value for INDIRANI NAGAR

Indirani Nagar guideline value

The current guideline value of Indirani Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Nedunkumdram village, under the Tambaram Joint 1 SRO, and is classified as Residential Special Type - III.

How the guideline value of Indirani Nagar has changed

The guideline value for Indirani Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 804 per sq.ft, which increased to Rs 1,200 per sq.ft in the 2023 revision. The most recent revision in 2024 raised the guideline value to Rs 1,320 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has risen by 64%.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The changes from 2017 to 2023 reflect a significant increase of 49%, showcasing the evolving landscape of property values in this area.

Guideline values in Nedunkumdram

Nedunkumdram village has a range of guideline values across its 75 streets under the Tambaram Joint 1 SRO, with values ranging from Rs 330 to Rs 5,300 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, positioning Indirani Nagar's 2024 figure below this median.

• Isha Anandham: Rs 1,980 per sq.ft (2024)
• Isha Merri Land: Rs 2,660 per sq.ft (2024)
• Isha Santhosham: Rs 2,970 per sq.ft (2024)
• Isha Shubham: Rs 2,200 per sq.ft (2024)
• Homeland One Phase - II: Rs 3,300 per sq.ft (2024)
• Homeland One Phase -5: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Indirani Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Indirani Nagar?

The Sub Registrar Office that covers Indirani Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in property transactions in Nedunkumdram. It is used to determine the stamp duty and registration fees that must be paid at the time of property registration. Buyers and sellers must be aware of the guideline value as it directly affects the overall cost of the transaction.

When a property is bought or sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Indirani Nagar?

The current guideline value of Indirani Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased significantly, from Rs 804 per sq.ft to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 64%.

What are the guideline values for other streets in Nedunkumdram?

Other streets in Nedunkumdram have varying guideline values, with rates ranging from Rs 330 to Rs 5,300 per sq.ft. The median for these streets is Rs 2,200 per sq.ft.

What fees are associated with buying property in Indirani Nagar?

When buying property in Indirani Nagar, buyers must pay stamp duty at 7% of the guideline value and a registration fee at 2%. These fees are calculated based on the higher of the guideline value or the sale price.

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

The Sub Registrar Office for Indirani Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.