Guideline Value for INDIRAPURI 1 TO 12 STREETS

Indirapuri 1 To 12 Streets guideline value

The current guideline value for Indirapuri 1 To 12 Streets in S. Kullathur village is Rs 2,530 per sq.ft, effective from 1 July 2024. This area falls under the Pallavaram Sub Registrar Office and is classified as Residential Class I Type - II.

How the guideline value of Indirapuri 1 To 12 Streets has changed

The guideline value for Indirapuri 1 To 12 Streets has seen several revisions over the years. In 2012, the guideline value was Rs 2,300 per sq.ft, which decreased to Rs 1,541 per sq.ft in 2017. This marked a decline of 33%. However, from 2017 to 2023, the value increased by 30% to reach Rs 2,000 per sq.ft. The most recent revision in 2024 saw a further increase of 27%, bringing the current value to Rs 2,530 per sq.ft.

It is important to note that the register has no figures for the revisions in 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in S. Kullathur

In S. Kullathur, there are 71 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 4,400 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, placing the 2024 figure for Indirapuri 1 To 12 Streets below that median.

• Heera Avenue: Rs 4,400 per sq.ft (2024)
• Kakithapuram 1 To 5 Streets: Rs 4,400 per sq.ft (2024)
• Gandhi Nagar 1 To 4 Cross Street: Rs 2,750 per sq.ft (2024)
• Gandhi Nagar 1 To 3 Main Road: Rs 2,530 per sq.ft (2024)
• Gandhi Nagar 1 To 24 Streets: Rs 2,530 per sq.ft (2024)
• Engineering Avenue 1 To 5 Streets: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Indirapuri 1 To 12 Streets

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value would be Rs 25,30,000. The stamp duty at 7% would amount to Rs 1,77,100, while the registration fee at 2% would be Rs 50,600. Together, the total cost for stamp duty and registration fees would be Rs 2,27,700. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Indirapuri 1 To 12 Streets?

The Indirapuri 1 To 12 Streets fall under the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in S. Kullathur

The guideline value is a critical factor when registering property transactions in S. Kullathur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold, the guideline value is compared to 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 for Indirapuri 1 To 12 Streets?

The current guideline value for Indirapuri 1 To 12 Streets is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,530 per sq.ft in 2024.

What is the land classification for Indirapuri 1 To 12 Streets?

Indirapuri 1 To 12 Streets is classified as Residential Class I Type - II.

Where can I find the Pallavaram Sub Registrar Office?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Indirapuri 1 To 12 Streets?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 25,30,000, the stamp duty would be Rs 1,77,100 at 7%.