Guideline Value for INDRA NAGAR NEHRU STREET (WARD -19)

Indra Nagar Nehru Street (Ward -19) guideline value

The current guideline value for Indra Nagar Nehru Street (Ward -19) is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Indra Nagar Nehru Street (Ward -19) has changed

Over the years, the guideline value for Indra Nagar Nehru Street has seen several revisions. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 402 per sq.ft, marking a decrease of 33%. The value then increased significantly to Rs 600 per sq.ft in the 2023 revision, and further rose to Rs 660 per sq.ft in the 2024 revision, reflecting a 10% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value in this village is Rs 1,100 per sq.ft, placing the 2024 value of Indra Nagar Nehru Street below this median.

• Inidirajan (N): Rs 660 per sq.ft (2024)
• Indira Ganthi Nagar (N): Rs 660 per sq.ft (2024)
• India Piston (Pa): Rs 550 per sq.ft (2024)
• Indhu Garden (Sa): Rs 440 per sq.ft (2024)
• It Avenue (N): Rs 990 per sq.ft (2024)
• Imayavaramban Street (Ward -4): Rs 1,321 per sq.ft (2024)

Stamp duty and registration fee for property in Indra Nagar Nehru Street (Ward -19)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, totaling Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Indra Nagar Nehru Street (Ward -19)?

The Sub Registrar Office that covers Indra Nagar Nehru Street (Ward -19) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ninna Karai. It serves as the basis for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a standardized value.

When a property is sold, the guideline value helps determine the minimum value at which the property can be registered, thus providing a reference point for both buyers and sellers during negotiations.

Frequently asked questions

What is the current guideline value for Indra Nagar Nehru Street?

The current guideline value for Indra Nagar Nehru Street (Ward -19) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions: Rs 600 per sq.ft in 2012, Rs 402 per sq.ft in 2017, Rs 600 per sq.ft in 2023, and Rs 660 per sq.ft in 2024. The overall change from 2012 to 2024 is an increase of 10%.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 6,60,000, the stamp duty is Rs 46,200 and the registration fee is Rs 13,200, totaling Rs 59,400. Duty is charged on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for this street located?

The Sub Registrar Office for Indra Nagar Nehru Street (Ward -19) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the land classification for Indra Nagar Nehru Street?

The land classification for Indra Nagar Nehru Street (Ward -19) is Residential Class I Type - III, indicating its suitability for residential purposes.