Guideline Value

Corporate

Guideline Value for INDRA NAGAR 1ST STREET

₹2530/sq.ft.

The guideline value for Indra Nagar 1st Street in Manapakkam village (Chennai South Joint I SRO, Chennai zone) is Rs 2530 per sq.ft, effective 1 July 2024. It was Rs 2300 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Manapakkam

Village

Chennai South Joint I

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹2530 /sq.ft.
From 1-4-2023 ₹2300 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1541 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2300 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹400 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹132 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹118 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510536
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[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 Nagar 1st Street

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Indra Nagar 1st Street guideline value

The current guideline value of Indra Nagar 1st Street is Rs 2,530 per sq.ft, effective from 1 July 2024. This street is located in Manapakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Indra Nagar 1st Street has changed

The guideline value for Indra Nagar 1st Street has undergone several revisions over the years. In 2002, the value was Rs 118 per sq.ft, which increased to Rs 132 per sq.ft in 2003. Following this, there was a significant rise to Rs 400 per sq.ft in 2007, and by 2012, it reached Rs 2,300 per sq.ft. However, the value decreased to Rs 1,541 per sq.ft in 2017 before climbing to Rs 2,300 per sq.ft in 2023. The latest revision in 2024 set the guideline value at Rs 2,530 per sq.ft.

The changes between the revisions reflect various fluctuations: from 2002 to 2024, the overall increase is 2044%. Notably, the value rose by 10% from 2023 to 2024 and saw a 49% increase from 2017 to 2023. The value decreased by 33% from 2012 to 2017 and experienced a substantial increase of 475% from 2007 to 2012. The increase from 2003 to 2007 was 203%, and from 2002 to 2003, it was 12%.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median guideline value is Rs 2,530 per sq.ft, which is the same as the current value for Indra Nagar 1st Street.

Stamp duty and registration fee for property in Indra Nagar 1st Street

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 these fees would be Rs 2,27,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Indra Nagar 1st Street?

The Sub Registrar Office that covers Indra Nagar 1st Street 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Manapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately and fairly.

When a property is sold, the buyer and seller must consider the guideline value to calculate the applicable stamp duty and registration fees. This ensures that both parties are compliant with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Indra Nagar 1st Street?

The current guideline value of Indra Nagar 1st Street 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 significantly from Rs 118 per sq.ft in 2002 to Rs 2,530 per sq.ft in 2024, reflecting an overall increase of 2044% over the years.

What is the stamp duty rate for property in Indra Nagar 1st Street?

The stamp duty rate for property transactions in Indra Nagar 1st Street is 7% of the guideline value or the sale price, whichever is higher.

Which office registers properties in Indra Nagar 1st Street?

The Chennai South Joint I Sub Registrar Office is responsible for registering properties in Indra Nagar 1st Street.

What is the land classification for Indra Nagar 1st Street?

The land classification for Indra Nagar 1st Street is Residential Class II Type - I, indicating its suitability for residential development.