Guideline Value for INDRA PRIYADARSHINI NAGAR RAJIV STREET

Indra Priyadarshini Nagar Rajiv Street guideline value

The current guideline value of Indra Priyadarshini Nagar Rajiv Street is Rs 1,870 per sq.ft. This street is located in Medavakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Indra Priyadarshini Nagar Rajiv Street has changed

The guideline value for Indra Priyadarshini Nagar Rajiv Street has undergone several revisions over the years. The 2012 revision set the guideline value at Rs 1,700 per sq.ft. This figure was then revised to Rs 1,139 per sq.ft in 2017, reflecting a decrease of 33%. Following this, the 2023 revision increased the value to Rs 1,700 per sq.ft, and the most recent revision in 2024 has set the value at Rs 1,870 per sq.ft, marking a 10% increase from the previous year.

In summary, from 2012 to 2024, the overall change in the guideline value is a 10% increase. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing the guideline value of Indra Priyadarshini Nagar Rajiv Street below this median.

• Indra Street/Nagar: Rs 2,200 per sq.ft (2024)
• Indragandhi Street: Rs 2,200 per sq.ft (2024)
• Isha Homes: Rs 2,750 per sq.ft (2024)
• Iswariya Avenue / Garden: Rs 2,750 per sq.ft (2024)
• Iyyappa Nagar: Rs 2,200 per sq.ft (2024)
• Iyyappa Nagar 1st Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Indra Priyadarshini Nagar Rajiv Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,870 per sq.ft, the total guideline value amounts to Rs 18,70,000. The stamp duty at 7% would be Rs 1,30,900, and the registration fee at 2% would be Rs 37,400, bringing the total fees together to Rs 1,68,300. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Indra Priyadarshini Nagar Rajiv Street?

The Sub Registrar Office that covers Indra Priyadarshini Nagar Rajiv Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035, Chennai registration zone.

For more information, you can find your SRO.

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

The guideline value is a critical factor during the registration of property transactions in Medavakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Indra Priyadarshini Nagar Rajiv Street?

The current guideline value of Indra Priyadarshini Nagar Rajiv Street is Rs 1,870 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,700 per sq.ft in 2012 to Rs 1,139 per sq.ft in 2017, then back to Rs 1,700 per sq.ft in 2023, and finally to Rs 1,870 per sq.ft in 2024.

What is the land classification for Indra Priyadarshini Nagar Rajiv Street?

The land classification for Indra Priyadarshini Nagar Rajiv Street is Residential Class III Type - I.

Where can I find the relevant Sub Registrar Office for this street?

The relevant Sub Registrar Office for Indra Priyadarshini Nagar Rajiv Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is the stamp duty calculated for properties in this area?

The stamp duty for properties in Indra Priyadarshini Nagar Rajiv Street is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.