Guideline Value for INDRA NAGAR 12TH LANE

Indra Nagar 12th Lane guideline value

The current guideline value of Indra Nagar 12th Lane is Rs 9,900 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur village, under the Chennai South Joint I SRO, and is classified as Residential Class I Type - I.

How the guideline value of Indra Nagar 12th Lane has changed

The guideline value for Indra Nagar 12th Lane has undergone several revisions over the years. In 2002, the guideline value was Rs 1,091 per sq.ft, which increased to Rs 1,207 per sq.ft in 2003, marking an increase of 11%. This was followed by a rise to Rs 1,300 per sq.ft in 2007, reflecting an increase of 8%. The value saw a significant jump to Rs 9,000 per sq.ft in 2012, a remarkable increase of 592%. However, it then decreased to Rs 6,030 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 9,000 per sq.ft in 2023, before reaching the current figure of Rs 9,900 per sq.ft in 2024, which is a 10% increase from the previous year.

The overall change from 2002 to 2024 shows an increase of 807%, highlighting the fluctuations in the guideline value over the years. There are no figures available for the revisions in the years not listed for this street.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO, with a 2024 guideline value range from Rs 3,520 to Rs 12,660 per sq.ft. The median value is Rs 9,900 per sq.ft, which matches the guideline value of Indra Nagar 12th Lane.

• Indra Nagar 11th Lane: Rs 4,950 per sq.ft (2024)
• Indra Nagar 13th Lane: Rs 4,950 per sq.ft (2024)
• Indra Nagar 10th Lane: Rs 4,950 per sq.ft (2024)
• Indra Nagar 14th Lane: Rs 4,950 per sq.ft (2024)
• Indra Nagar 15th Lane: Rs 4,950 per sq.ft (2024)
• Indra Nagar 16th Cross Street: Rs 8,250 per sq.ft (2024)

Stamp duty and registration fee for property in Indra Nagar 12th Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 9,900 per sq.ft, the total guideline value amounts to Rs 99,00,000. The stamp duty at 7% would be Rs 6,93,000, and the registration fee at 2% would be Rs 1,98,000, bringing the total cost to Rs 8,91,000. It is important to note that the 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 Indra Nagar 12th Lane?

The Sub Registrar Office that covers Indra Nagar 12th Lane is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more details.

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

The guideline value plays a crucial role during property registration in Thiruvanmiyur. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be used for calculating the applicable duties.

Understanding the guideline value is essential for both buyers and sellers, as it ensures compliance with local regulations during the transaction process. It is advisable to check the latest guideline values before proceeding with any property transactions in the area.

Frequently asked questions

What is the current guideline value of Indra Nagar 12th Lane?

The current guideline value of Indra Nagar 12th Lane is Rs 9,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,091 per sq.ft in 2002 to Rs 9,900 per sq.ft in 2024, reflecting an overall increase of 807% over the years.

What are the stamp duty and registration fees for properties in Indra Nagar 12th Lane?

For a 1,000 sq.ft property, the total guideline value is Rs 99,00,000. The stamp duty would be Rs 6,93,000, and the registration fee would be Rs 1,98,000, totaling Rs 8,91,000.

Which Sub Registrar Office covers this area?

The Chennai South Joint I Sub Registrar Office covers Indra Nagar 12th Lane, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the land classification for Indra Nagar 12th Lane?

Indra Nagar 12th Lane is classified as Residential Class I Type - I, indicating its designation for residential use within the area.