Guideline Value for INDRA NAGAR

Indra Nagar guideline value

The current guideline value of Indra Nagar, located in Thiruvottiyur village under the Thiruvottiyur SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. This area falls under the Residential Special Type - III land classification.

How the guideline value of Indra Nagar has changed

The guideline value of Indra Nagar has seen significant changes over the years. In the 2007 revision, the value was Rs 600 per sq.ft, which increased to Rs 2,600 per sq.ft in 2012, marking a substantial rise of 333%. However, in the 2017 revision, the value decreased to Rs 1,742 per sq.ft, reflecting a decline of 33%. The value then rose to Rs 2,600 per sq.ft in 2023, before reaching the current figure of Rs 2,800 per sq.ft in 2024, an increase of 8% from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 367%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thiruvottiyur

In Thiruvottiyur, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 1,300 to Rs 8,600 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, indicating that the guideline value of Indra Nagar is below this median.

• Ilango Street(Grama Street): Rs 3,700 per sq.ft (2024)
• Horizon Appartment: Rs 5,500 per sq.ft (2024)
• Jeevanlal Nagar: Rs 3,700 per sq.ft (2024)
• Jeevarathinammal Nagar: Rs 3,300 per sq.ft (2024)
• Jothi Nagars/Streets/Cross Streets: Rs 1,900 per sq.ft (2024)
• Glass Factory Road: Rs 1,900 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 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total fees to Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Indra Nagar?

The Sub Registrar Office that covers Indra Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more details.

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

The guideline value is a critical factor during the registration of property transactions in Thiruvottiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Indra Nagar?

The current guideline value of Indra Nagar is Rs 2,800 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 600 per sq.ft in 2007 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 367% over this period.

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

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Which Sub Registrar Office covers Indra Nagar?

The Thiruvottiyur Sub Registrar Office covers Indra Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the land classification of Indra Nagar?

Indra Nagar is classified as Residential Special Type - III according to the current land classification regulations.