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Guideline Value

Corporate

Guideline Value for INDRA GANDHI NAGAR 8TH STREET

₹3800/sq.ft.

The guideline value for Indra Gandhi Nagar 8th Street in Puliyur village (Kodambakkam SRO, Chennai zone) is Rs 3800 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 9% change. The land classification is Residential Class Iv Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Puliyur

Village

Kodambakkam

SRO

Residential Class IV Type - III
History
Period Guideline Value
From 1-7-2024 ₹3800 /sq.ft.
From 1-4-2023 ₹3500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2345 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹3500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹900 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.
044-24843265
[email protected]

DRO (District Registrar Office)

No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai - 600 014.
044-28613607
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Indra Gandhi Nagar 8th Street

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Indra Gandhi Nagar 8th Street guideline value

The current guideline value for Indra Gandhi Nagar 8th Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village under the Kodambakkam Sub Registrar Office (SRO) and is classified as Residential Class IV Type - III.

How the guideline value of Indra Gandhi Nagar 8th Street has changed

The guideline value for Indra Gandhi Nagar 8th Street has seen several revisions over the years. In 2007, the value was Rs 900 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012. However, this value decreased to Rs 2,345 per sq.ft in 2017. Following this, the value rose to Rs 3,500 per sq.ft in 2023, and then further increased to the current rate of Rs 3,800 per sq.ft in 2024. The register has no figures for the years 2002 and 2003 for this street.

Between the revisions, the changes are notable. From 2007 to 2012, there was a substantial increase of 289%. However, the value then dropped by 33% from 2012 to 2017. The value saw a significant rise of 49% from 2017 to 2023, and a further increase of 9% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 322%.

Guideline values in Puliyur

In Puliyur village, 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. The median guideline value for these streets is Rs 5,800 per sq.ft, placing Indra Gandhi Nagar 8th Street's current value below this median.

Stamp duty and registration fee for property in Indra Gandhi Nagar 8th 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 fees to Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Indra Gandhi Nagar 8th Street?

The Sub Registrar Office that covers Indra Gandhi Nagar 8th 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 more information.

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

The guideline value is a crucial factor when buying or selling property in Puliyur. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate the applicable stamp duty and registration fees during the property transaction process.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, preventing undervaluation. It is essential for buyers and sellers to be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value for Indra Gandhi Nagar 8th Street?

The current guideline value for Indra Gandhi Nagar 8th 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 changed significantly, from Rs 900 per sq.ft in 2007 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 322% over this period.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 and the registration fee would be Rs 76,000, totaling Rs 3,42,000.

Which office handles property registrations for Indra Gandhi Nagar 8th Street?

The Kodambakkam Sub Registrar Office handles property registrations for Indra Gandhi Nagar 8th Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the minimum value for property registration and is used to calculate the stamp duty and registration fees. It ensures that properties are not undervalued during transactions.