Guideline Value for INDRA NAGAR 22ND CROSS STREET

Indra Nagar 22nd Cross Street guideline value

The current guideline value of Indra Nagar 22nd 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 22nd Cross Street has changed

Over the years, the guideline value of Indra Nagar 22nd Cross Street has seen several revisions. The earliest recorded figure is from 2002, which was Rs 1,272 per sq.ft. This increased to Rs 1,407 per sq.ft in 2003, marking an increase of 11%. The next revision in 2007 saw a significant jump to Rs 2,200 per sq.ft, reflecting a 56% rise. In 2012, the value was Rs 7,500 per sq.ft, showing an increase of 241% from the previous revision. However, between 2017 and 2023, the value rose to Rs 7,500 per sq.ft, indicating a decrease of 33% from the 2012 figure. The latest revision in 2024 has set the guideline value at Rs 8,250 per sq.ft, which is a 10% increase from 2023.

From 2017 to 2023, the value increased by 49%, reaching Rs 7,500 per sq.ft. The overall change from the initial figure in 2002 to the current value in 2024 represents a substantial increase of 549%.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median value for these streets is Rs 9,900 per sq.ft, placing Indra Nagar 22nd Cross Street's 2024 figure below that median.

• Indra Nagar 21st 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 25th Cross Street: Rs 8,250 per sq.ft (2024)
• Indra Nagar 28th Cross Street: Rs 8,250 per sq.ft (2024)
• Indra Nagar 1st Avenue: Rs 12,660 per sq.ft (2024)

Stamp duty and registration fee for property in Indra Nagar 22nd 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 at 7% would amount to Rs 5,77,500, and the registration fee at 2% would be Rs 1,65,000, leading to a total of Rs 7,42,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Indra Nagar 22nd Cross Street?

The Sub Registrar Office covering Indra Nagar 22nd 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. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Thiruvanmiyur. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the government registers.

It is essential for buyers and sellers to be aware of the guideline value as it impacts the overall cost of the transaction. The registration process requires that the property be valued at either the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Indra Nagar 22nd Cross Street?

The current guideline value of Indra Nagar 22nd 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 changed significantly from Rs 1,272 per sq.ft in 2002 to Rs 8,250 per sq.ft in 2024, representing an overall increase of 549%.

What is the land classification for Indra Nagar 22nd Cross Street?

The land classification for Indra Nagar 22nd Cross Street is Residential Class II Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Indra Nagar 22nd Cross Street is 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 property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 82,50,000, the stamp duty would be calculated at 7% of that amount.