Guideline Value for INDRA NAGAR 28TH CROSS STREET

Indra Nagar 28th Cross Street guideline value

The current guideline value of Indra Nagar 28th Cross Street is Rs 8,250 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 II Type - I.

How the guideline value of Indra Nagar 28th Cross Street has changed

The guideline value for Indra Nagar 28th Cross Street has seen several revisions over the years. The earliest recorded value in 2002 was Rs 1,272 per sq.ft, which increased to Rs 1,407 per sq.ft in 2003, marking an increase of 11%. Subsequently, the value rose significantly to Rs 2,708 per sq.ft in 2007, reflecting a 92% increase. In 2012, the value was Rs 7,500 per sq.ft, which was a 177% increase from the previous revision. However, it then dropped to Rs 5,025 per sq.ft in 2017, indicating a decrease of 33%. The value continued to rise, reaching Rs 7,500 per sq.ft in 2023, and then increased by 10% to the current value of Rs 8,250 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 549%. There are no figures available for any other years for this street.

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 for Indra Nagar 28th Cross Street is below this median.

• Indra Nagar 25th Cross Street: Rs 8,250 per sq.ft (2024)
• Indra Nagar 29th Cross Street: Rs 8,250 per sq.ft (2024)
• Indra Nagar 24th Cross Street: Rs 8,250 per sq.ft (2024)
• Indra Nagar 2nd Avenue: Rs 12,660 per sq.ft (2024)
• Indra Nagar 23rd Cross Street: Rs 8,250 per sq.ft (2024)
• Indra Nagar 22nd Cross Street: Rs 8,250 per sq.ft (2024)

Stamp duty and registration fee for property in Indra Nagar 28th 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, while the registration fee at 2% would be Rs 1,65,000. Together, these charges would total 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Indra Nagar 28th Cross Street?

The Sub Registrar Office that covers Indra Nagar 28th 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 further assistance.

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

The guideline value is an essential factor in property transactions in Thiruvanmiyur. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property. The guideline value is set by the Registration Department and is updated periodically to reflect market conditions.

When a property is registered, the guideline value or the sale price, whichever is higher, is considered for calculating the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Indra Nagar 28th Cross Street?

The current guideline value of Indra Nagar 28th 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 from Rs 1,272 per sq.ft in 2002 to Rs 8,250 per sq.ft in 2024, reflecting an overall increase of 549% over the years.

What is the registration office for Indra Nagar 28th Cross Street?

The registration office for Indra Nagar 28th 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.

How is stamp duty calculated for property in Indra Nagar 28th Cross Street?

Stamp duty for property in Indra Nagar 28th Cross Street is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty of Rs 5,77,500.

What is the land classification for Indra Nagar 28th Cross Street?

Indra Nagar 28th Cross Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.