Guideline Value for INDRA GANDHI NAGAR 2ND STREET

Indra Gandhi Nagar 2nd Street guideline value

The current guideline value of Indra Gandhi Nagar 2nd Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village under the Kodambakkam SRO, classified as Residential Class IV Type - III.

How the guideline value of Indra Gandhi Nagar 2nd Street has changed

The guideline value for Indra Gandhi Nagar 2nd Street has seen significant changes over the years. In the 2007 revision, the value was set at Rs 900 per sq.ft, which increased dramatically to Rs 3,500 per sq.ft in the 2012 revision, marking a rise of 289%. The latest revision in 2024 saw the guideline value increase to Rs 3,800 per sq.ft, reflecting a 9% increase from the previous figure.

There are no figures available for the years 2002, 2003, 2017, and 2023 in the register for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 322%.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 14,300 per sq.ft, with a median value of Rs 5,800 per sq.ft. The guideline value for Indra Gandhi Nagar 2nd Street is below this median.

• Indra Gandhi Nagar 1st Street: Rs 3,800 per sq.ft (2024)
• Indra Gandhi Nagar 3rd Street: Rs 3,800 per sq.ft (2024)
• Indra Gandhi Nagar 4th Street: Rs 3,800 per sq.ft (2024)
• Indra Gandhi Nagar 5th Street: Rs 3,800 per sq.ft (2024)
• Indra Gandhi 3rd Street (Choolaimedu): Rs 4,400 per sq.ft (2024)
• Indra Gandhi Nagar 6th Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Indra Gandhi Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total to Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Indra Gandhi Nagar 2nd Street?

The Indra Gandhi Nagar 2nd Street falls under the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Puliyur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared with the sale price, and the higher amount 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 Indra Gandhi Nagar 2nd Street?

The current guideline value of Indra Gandhi Nagar 2nd Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 900 per sq.ft in 2007 to Rs 3,800 per sq.ft in 2024, marking an overall increase of 322% over this period.

What is the land classification for Indra Gandhi Nagar 2nd Street?

Indra Gandhi Nagar 2nd Street is classified as Residential Class IV Type - III under the Kodambakkam SRO.

Where can I find the registration office for this street?

The registration office for Indra Gandhi Nagar 2nd Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is the stamp duty calculated for properties in Puliyur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 38,00,000, the stamp duty at 7% would be Rs 2,66,000.