Guideline Value for INDRA NAGAR 21ST CROSS STREET

Indra Nagar 21st Cross Street guideline value

The current guideline value of Indra Nagar 21st Cross Street is Rs 8,250 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur 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 21st Cross Street has changed

The guideline value for Indra Nagar 21st Cross Street has seen significant changes over the years. In 2002, the value was Rs 1,478 per sq.ft, which increased to Rs 1,635 per sq.ft in 2003, marking an increase of 11%. Following this, the value rose to Rs 1,800 per sq.ft in 2007, a 10% increase. The next revision in 2012 saw a notable jump to Rs 7,500 per sq.ft, reflecting a substantial increase of 317%. However, in 2017, the value decreased to Rs 5,025 per sq.ft, a decline of 33%. The guideline value then rose sharply to Rs 7,500 per sq.ft in 2023, followed by a further increase to Rs 8,250 per sq.ft in 2024, which is a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 458%. The revisions from 2017 to 2023 show a significant increase of 49%, while the transition from 2012 to 2017 reflects a decrease. There are no figures available for the years not mentioned in the register 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 ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value for these streets is Rs 9,900 per sq.ft, placing Indra Nagar 21st Cross Street's 2024 figure below this median.

• Indra Nagar 22nd Cross Street: Rs 8,250 per sq.ft (2024)
• Indra Nagar 23rd Cross Street: Rs 8,250 per sq.ft (2024)
• Indra Nagar 24th Cross Street: Rs 8,250 per sq.ft (2024)
• Indra Nagar 1st Avenue: Rs 12,660 per sq.ft (2024)
• Indra Nagar 25th Cross Street: Rs 8,250 per sq.ft (2024)
• Indra Nagar 18th Cross Street: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Indra Nagar 21st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,250 per sq.ft, the total guideline value would be Rs 82,50,000. The stamp duty, calculated at 7%, would amount to Rs 5,77,500, and the registration fee at 2% would be Rs 1,65,000, bringing the total fees together to Rs 7,42,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can calculate your own fees using our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Indra Nagar 21st Cross Street?

The Sub Registrar Office that covers Indra Nagar 21st Cross 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. For more information, you can find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Thiruvanmiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure compliance with the legal requirements of the registration process.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration reflects the true value of the property as per the government’s valuation.

Frequently asked questions

What is the current guideline value of Indra Nagar 21st Cross Street?

The current guideline value of Indra Nagar 21st Cross Street is Rs 8,250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,478 per sq.ft in 2002 to Rs 8,250 per sq.ft in 2024, reflecting a total increase of 458% over the years.

What is the land classification for Indra Nagar 21st Cross Street?

The land classification for Indra Nagar 21st Cross Street is Residential Class II Type - I.

Which office handles the registration for this area?

The Chennai South Joint I Sub Registrar Office handles the registration for Indra Nagar 21st Cross Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is the stamp duty calculated for properties in this area?

The stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at Rs 8,250 per sq.ft, the total guideline value would be Rs 82,50,000.