Guideline Value for INDRA NAGAR

Indra Nagar guideline value

The current guideline value of Indra Nagar, located in Perumbakkam village under the Selaiyur SRO, is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - II.

How the guideline value of Indra Nagar has changed

Over the years, the guideline value of Indra Nagar has seen several revisions. The 2012 revision recorded a value of Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in the 2017 revision. Following this, the guideline value increased significantly to Rs 1,500 per sq.ft in the 2023 revision, and then further rose to Rs 1,600 per sq.ft in the 2024 revision. The revisions for the years 2002, 2003, and 2007 do not have figures recorded for this street.

From 2012 to 2017, there was a decrease of 33%, followed by a substantial increase of 49% from 2017 to 2023. The overall change from 2012 to 2024 shows a modest increase of 7% in the guideline value.

Guideline values in Perumbakkam

In Perumbakkam, there are 225 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft. The median guideline value in this area is Rs 2,725 per sq.ft, positioning Indra Nagar's 2024 figure below that median.

• Indira Ngar Kamarajar Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Vivekanandar Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Vivekanandar 1st-5th Cross Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Vishnuvarman Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Vetrivel Murugan Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar Simmavarman Street: Rs 1,600 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 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty, charged at 7%, would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Indra Nagar?

The Sub Registrar Office that covers Indra Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Perumbakkam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly affects the overall cost involved in the transaction. Ensuring that the guideline value is accurately reflected in the sale documentation is vital for a smooth registration process.

Frequently asked questions

What is the current guideline value of Indra Nagar?

The current guideline value of Indra Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the land classification of Indra Nagar?

Indra Nagar is classified as Residential Class II Type - II, which indicates its intended use for residential purposes.

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

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.