Guideline Value for INDRA STREET (WARD-21)

Indra Street (Ward-21) guideline value

The current guideline value of Indra Street (Ward-21) is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Konathi village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Indra Street (Ward-21) has changed

The guideline value for Indra Street has undergone several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 402 per sq.ft, marking a decrease of 33%. The 2023 revision then increased the value to Rs 600 per sq.ft, and the latest 2024 revision raised it further to Rs 660 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a modest increase of 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Konathi

In Konathi village, there are 131 streets under the Chengleput Joint II SRO with guideline values ranging from Rs 440 to Rs 2,500 per sq.ft. The median guideline value is Rs 770 per sq.ft, which indicates that the 2024 figure for Indra Street is below this median.

• Jai Avenue (Tai): Rs 880 per sq.ft (2024)
• Handicaped Street (Ward-21): Rs 660 per sq.ft (2024)
• Gurusamy Street (Ward-21): Rs 660 per sq.ft (2024)
• G.S.T.Road (Ward -1): Rs 2,200 per sq.ft (2024)
• G.S.T Road Thailavaram (Ward-21): Rs 2,200 per sq.ft (2024)
• Gst Road Potheri (Ward-20): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Indra Street (Ward-21)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, while the registration fee at 2% would be Rs 13,200, bringing the total cost for these fees to Rs 59,400. 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 details.

Which Sub Registrar Office covers Indra Street (Ward-21)?

The Sub Registrar Office that covers Indra Street (Ward-21) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Konathi

The guideline value plays a crucial role in the registration process when buying or selling property in Konathi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government collects the appropriate fees based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Indra Street (Ward-21)?

The current guideline value of Indra Street (Ward-21) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 660 per sq.ft in 2024, with notable revisions in 2017 and 2023.

What is the land classification for Indra Street (Ward-21)?

Indra Street (Ward-21) is classified as Residential Class II Type - I.

Where can I find the registration office for Indra Street (Ward-21)?

The registration office for Indra Street (Ward-21) 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 Konathi?

Stamp duty for properties in Konathi is calculated based on the higher of the guideline value or the sale price. The current rate is 7% for stamp duty and 2% for the registration fee.