Guideline Value for INDRA NAGAR 24TH CROSS STREET

Indra Nagar 24th Cross Street guideline value

The current guideline value of Indra Nagar 24th 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 24th Cross Street has changed

Over the years, the guideline value of Indra Nagar 24th Cross Street has seen significant changes. The register indicates that in 2002, the guideline value was Rs 1,478 per sq.ft. It increased to Rs 1,635 per sq.ft in 2003, marking an 11% rise. From 2003 to 2007, the value further increased by 10%, reaching Rs 1,800 per sq.ft. A substantial jump occurred from 2007 to 2012, where the value surged by 317% to Rs 7,500 per sq.ft. However, from 2012 to 2017, there was a decrease of 33%, bringing the value down to Rs 5,025 per sq.ft. The value then rose by 49% from 2017 to 2023, reaching Rs 7,500 per sq.ft again. The most recent revision in 2024 shows a 10% increase, resulting in the current guideline value of Rs 8,250 per sq.ft.

There are no figures available for the years not mentioned in the register for this street. The overall increase from 2002 to 2024 is 458%, highlighting the substantial changes in the guideline value over the years.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 3,520 to Rs 12,660 per sq.ft, with a median value of Rs 9,900 per sq.ft. The guideline value of Indra Nagar 24th Cross Street is below this median.

• Indra Nagar 23rd Cross Street: Rs 8,250 per sq.ft (2024)
• Indra Nagar 25th Cross Street: Rs 8,250 per sq.ft (2024)
• Indra Nagar 22nd Cross Street: Rs 8,250 per sq.ft (2024)
• Indra Nagar 28th Cross Street: Rs 8,250 per sq.ft (2024)
• Indra Nagar 21st Cross Street: Rs 8,250 per sq.ft (2024)
• Indra Nagar 29th Cross Street: Rs 8,250 per sq.ft (2024)

Stamp duty and registration fee for property in Indra Nagar 24th 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 amounts to Rs 82,50,000. The stamp duty at 7% would be 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Indra Nagar 24th Cross Street?

The Sub Registrar Office that covers Indra Nagar 24th 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 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 buying or selling a property. The higher of the guideline value or the sale price is considered for calculating these charges.

When a property is registered, the guideline value ensures that the transaction is documented at a fair value, reflecting the local market conditions. This helps in maintaining transparency in property dealings and ensures that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Indra Nagar 24th Cross Street?

The current guideline value of Indra Nagar 24th 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, showing an overall increase of 458% over the years.

What are the other streets in Thiruvanmiyur with the same guideline value?

Other streets in Thiruvanmiyur with the same guideline value of Rs 8,250 per sq.ft in 2024 include Indra Nagar 23rd Cross Street, Indra Nagar 25th Cross Street, Indra Nagar 22nd Cross Street, Indra Nagar 28th Cross Street, Indra Nagar 21st Cross Street, and Indra Nagar 29th Cross Street.

What is the registration fee and stamp duty for a property in this area?

For a property valued at Rs 82,50,000, the stamp duty would be Rs 5,77,500, and the registration fee would be Rs 1,65,000, totaling Rs 7,42,500.

Where can I find the Sub Registrar Office for Indra Nagar 24th Cross Street?

The Sub Registrar Office for Indra Nagar 24th Cross Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.