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 Vallancheri village under the Chengleput Joint II SRO, and is classified as Residential Class II Type - I.

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

The guideline value for Indra Street (Ward-21) 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 decreased to Rs 402 per sq.ft, marking a decline of 33%. The subsequent 2023 revision increased the value to Rs 600 per sq.ft, followed by the current 2024 revision which raised it to Rs 660 per sq.ft, reflecting a 10% increase.

Between the 2017 and 2023 revisions, there was a significant increase of 49%, bringing the value back to Rs 600 per sq.ft. Overall, from the 2012 revision to the current 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vallancheri

In Vallancheri, there are 134 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft, with a median value of Rs 825 per sq.ft. Indra Street's 2024 guideline value of Rs 660 per sq.ft 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, totaling Rs 59,400. Please note that 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 information.

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. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions within Vallancheri. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is recorded at a value that reflects the official assessment of the property’s worth, thereby facilitating a transparent and standardized process.

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 back to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

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

Indra Street (Ward-21) is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How do I calculate stamp duty and registration fees for properties in Vallancheri?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. You can refer to the stamp duty and registration fee calculator for assistance in determining these costs.