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

Indra Nagar Nehru Street (Ward -19) guideline value

The current guideline value of Indra Nagar Nehru Street (Ward -19) is Rs 440 per sq.ft, effective from 1 July 2024. This street is located in Panangottur village under the Chengleput Joint II SRO and is classified as Residential Class II Type - II.

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

The guideline value for Indra Nagar Nehru Street has undergone several revisions over the years. The 2012 revision set the value at Rs 400 per sq.ft, which then decreased to Rs 268 per sq.ft in 2017. Following this, the 2023 revision increased the value to Rs 400 per sq.ft, and the latest revision in 2024 raised it further to Rs 440 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Examining the changes between revisions, from 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased significantly by 49%. The overall change from 2012 to 2024 shows a slight increase of 10%.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft, with a median value of Rs 990 per sq.ft. Indra Nagar Nehru Street's 2024 figure is 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 1,320 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 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, totaling Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

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, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Panangottur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that all transactions are recorded accurately and that the government receives the appropriate revenue from property transfers.

Frequently asked questions

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

The current guideline value of Indra Nagar Nehru Street (Ward -19) is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What is the land classification for Indra Nagar Nehru Street?

Indra Nagar Nehru Street is classified as Residential Class II Type - II.

Where can I find the registration office for Indra Nagar Nehru Street?

The registration office for Indra Nagar Nehru Street is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is stamp duty calculated for properties in Indra Nagar Nehru Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000, leading to a stamp duty of Rs 30,800.