Guideline Value for INDRA NAGAR

Indra Nagar guideline value

The current guideline value of Indra Nagar, located in Srikaligapuram village under the Ramakrishna Rajupettai SRO, is Rs 150 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - I land classification.

How the guideline value of Indra Nagar has changed

Since the 2007 revision, the guideline value has seen significant changes. In 2007, the value was Rs 40 per sq.ft, which increased to Rs 75 per sq.ft in 2012. This was followed by a decrease to Rs 50 per sq.ft in 2017, marking a change of -33%. From 2017 to 2023, the value rose sharply to Rs 150 per sq.ft, reflecting an increase of 200%. The 2023 revision maintained this figure, and the current 2024 revision also stands at Rs 150 per sq.ft, showing no change from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 275%.

Guideline values in Srikaligapuram

In Srikaligapuram, there are 17 streets under the Ramakrishna Rajupettai SRO that carry a 2024 guideline value, all set at Rs 150 per sq.ft. The median for these streets is also Rs 150 per sq.ft, placing Indra Nagar at the same level as the median.

• Kamarajar St: Rs 150 per sq.ft (2024)
• Gandehi St: Rs 150 per sq.ft (2024)
• Kirubanantha Variyar St: Rs 150 per sq.ft (2024)
• Big Street: Rs 150 per sq.ft (2024)
• Madam St: Rs 150 per sq.ft (2024)
• Anna St: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Indra Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the total guideline value amounts to Rs 1,50,000. The stamp duty is charged at 7%, which equals Rs 10,500, and the registration fee is charged at 2%, amounting to Rs 3,000. Therefore, the total cost for stamp duty and registration fees together is Rs 13,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Indra Nagar?

The Indra Nagar area is covered by the Ramakrishna Rajupettai Sub Registrar Office, located at Pallipattu Road, Rk Pettai 631 303, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Srikaligapuram. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value ensures that the transaction is recorded accurately and fairly in the official records.

Additionally, the stamp duty and registration fees are calculated based on the guideline value. This means that both buyers and sellers must be aware of the current guideline value to understand their financial obligations during the transaction process.

Frequently asked questions

What is the current guideline value of Indra Nagar?

The current guideline value of Indra Nagar is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 40 per sq.ft in 2007 to Rs 150 per sq.ft in 2024, marking an overall increase of 275%.

What are the stamp duty and registration fees for properties in Indra Nagar?

For a property valued at Rs 1,50,000, the stamp duty is Rs 10,500, and the registration fee is Rs 3,000, totaling Rs 13,500.

Which Sub Registrar Office covers Indra Nagar?

The Ramakrishna Rajupettai Sub Registrar Office covers Indra Nagar, located at Pallipattu Road, Rk Pettai 631 303, Chennai registration zone.

How is the guideline value used in property transactions?

The guideline value is used as a benchmark for property registration and is essential for calculating stamp duty and registration fees. It ensures that property transactions are recorded accurately in official records.