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 Potheri village and falls under the Chengleput Joint II SRO with a land classification of 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. In the 2012 revision, the value was Rs 600 per sq.ft. This figure remained unchanged until the 2017 revision when it dropped to Rs 402 per sq.ft, marking a decrease of 33%. The value then increased to Rs 600 per sq.ft in the 2023 revision, followed by a rise to Rs 660 per sq.ft in the 2024 revision, representing a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 600 per sq.ft. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Potheri

Potheri village has a total of 129 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,970 per sq.ft. The median guideline value for these streets is Rs 770 per sq.ft, which means Indra Street's current value 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 would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, leading to a total of Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or 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 covering Indra Street (Ward-21) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Potheri. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is compliant with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly influences the costs associated with property registration. This value is determined by the government and is subject to periodic revisions based on various factors.

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 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the median guideline value for streets in Potheri?

The median guideline value for streets in Potheri is Rs 770 per sq.ft, indicating that Indra Street's current value is below this median.

What are the stamp duty and registration fees for property in Indra Street (Ward-21)?

For a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 and the registration fee would be Rs 13,200, totaling Rs 59,400.

Which office handles registrations for Indra Street (Ward-21)?

The Chengleput Joint II Sub Registrar Office handles registrations for Indra Street (Ward-21), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.