Guideline Value for INDRA NAGAR 4TH RIGHT CROSS STREET

Indra Nagar 4th Right Cross Street guideline value

The current guideline value of Indra Nagar 4th Right Cross Street is Rs 2,530 per sq.ft, effective from 1 July 2024. This street is located in Manapakkam village, under the Chennai South Joint I SRO, and is classified as Residential Class II Type - I.

How the guideline value of Indra Nagar 4th Right Cross Street has changed

The guideline value for Indra Nagar 4th Right Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,300 per sq.ft, which was a decrease of 33% from Rs 1,541 per sq.ft in 2017. The 2017 revision increased the value to Rs 2,300 per sq.ft, which remained unchanged until the 2023 revision, where it was set at Rs 2,300 per sq.ft. However, in the 2024 revision, the guideline value rose to Rs 2,530 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

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 value for these streets is Rs 2,530 per sq.ft, which is equal to the current guideline value for Indra Nagar 4th Right Cross Street.

• Indra Nagar 3rd Street: Rs 2,530 per sq.ft (2024)
• Indra Nagar 3rd Cross Street: Rs 2,530 per sq.ft (2024)
• Indra Nagar Main Road: Rs 2,530 per sq.ft (2024)
• Indra Nagar 2nd Street: Rs 2,530 per sq.ft (2024)
• Indra Nagar 2nd Main Road: Rs 2,530 per sq.ft (2024)
• Indra Nagar 2nd Cross Street: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Indra Nagar 4th Right Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value amounts to Rs 25,30,000. The stamp duty at 7% would be Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, bringing the total cost to Rs 2,27,700. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Indra Nagar 4th Right Cross Street?

The Sub Registrar Office that covers Indra Nagar 4th Right 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 Manapakkam

The guideline value is a crucial factor in property transactions in Manapakkam. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must be aware of the guideline value to ensure compliance with registration regulations.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transfer of property ownership. This ensures that all transactions are conducted transparently and fairly within the legal framework.

Frequently asked questions

What is the current guideline value of Indra Nagar 4th Right Cross Street?

The current guideline value of Indra Nagar 4th Right Cross 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 several times, starting from Rs 2,300 per sq.ft in 2012, decreasing to Rs 1,541 per sq.ft in 2017, and then increasing to Rs 2,300 per sq.ft in 2023. The latest revision in 2024 set the value at Rs 2,530 per sq.ft.

What is the land classification of Indra Nagar 4th Right Cross Street?

Indra Nagar 4th Right Cross Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total stamp duty and registration fees would be Rs 2,27,700.

Which Sub Registrar Office handles registrations for Indra Nagar 4th Right Cross Street?

The Chennai South Joint I Sub Registrar Office handles registrations for Indra Nagar 4th Right Cross Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.