Guideline Value for INDRA NAGAR 5TH MAIN ROAD

Indra Nagar 5th Main Road guideline value

The current guideline value of Indra Nagar 5th Main Road is Rs 12,660 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 Commercial Class I Type - I.

How the guideline value of Indra Nagar 5th Main Road has changed

The guideline value for Indra Nagar 5th Main Road has seen significant changes over the years. The earliest recorded figure in the register is from 2002, where the guideline value was Rs 1,043 per sq.ft. This figure increased to Rs 1,154 per sq.ft in 2003, marking an increase of 11%. By 2007, the value surged to Rs 1,800 per sq.ft, a rise of 56%. The following revision in 2012 saw a decrease to Rs 11,500 per sq.ft, a drop of 33%. However, from 2012 to 2017, the value increased dramatically to Rs 7,705 per sq.ft, reflecting a growth of 539%. The next revision in 2023 set the value at Rs 11,500 per sq.ft, before the latest revision in 2024, which established the current guideline value at Rs 12,660 per sq.ft, an increase of 10% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1114%. The register does not contain figures 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. The median guideline value for these streets is Rs 9,900 per sq.ft, which means that Indra Nagar 5th Main Road's current value is above this median.

• Indra Nagar 7th Street: Rs 4,950 per sq.ft (2024)
• Indra Nagar 4th Main Road: Rs 12,660 per sq.ft (2024)
• Indra Nagar 8th Street: Rs 4,950 per sq.ft (2024)
• Indra Nagar 4th Avenue: Rs 12,660 per sq.ft (2024)
• Indra Nagar 9th Lane: Rs 4,950 per sq.ft (2024)
• Indra Nagar East Avenue: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in Indra Nagar 5th Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 12,660 per sq.ft, the total guideline value amounts to Rs 1,26,60,000. The stamp duty at 7% would be Rs 8,86,200, while the registration fee at 2% would be Rs 2,53,200, bringing the total cost for these fees to Rs 11,39,400. 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 5th Main Road?

The Sub Registrar Office that covers Indra Nagar 5th Main Road 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 plays a crucial role in the registration process of property transactions in Thiruvanmiyur. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees. This ensures that the fees are calculated based on a standardized value set by the government.

It is essential for buyers and sellers to be aware of the guideline value as it affects the overall cost of property transactions. Proper understanding of these values can help in planning financial aspects related to property dealings.

Frequently asked questions

What is the current guideline value of Indra Nagar 5th Main Road?

The current guideline value of Indra Nagar 5th Main Road is Rs 12,660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 1,043 per sq.ft in 2002 to Rs 12,660 per sq.ft in 2024, representing an overall increase of 1114% over the years.

What is the median guideline value in Thiruvanmiyur?

The median guideline value for streets in Thiruvanmiyur is Rs 9,900 per sq.ft, with Indra Nagar 5th Main Road's value being above this median.

What fees are applicable for property transactions in Indra Nagar 5th Main Road?

For a property valued at Rs 12,660 per sq.ft, the stamp duty is 7% and the registration fee is 2%, leading to a total of Rs 11,39,400 for a 1,000 sq.ft plot.

Which office handles registrations for Indra Nagar 5th Main Road?

The Chennai South Joint I Sub Registrar Office handles registrations for Indra Nagar 5th Main Road, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.