Guideline Value for INDRAGANDHI ROAD

Indragandhi Road guideline value

The current guideline value of Indragandhi Road is Rs 5,500 per sq.ft, effective from 1 July 2024. This road is located in Cantonment Pallavaram village, under the Pallavaram SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Indragandhi Road has changed

The guideline value for Indragandhi Road has seen several revisions over the years. The 2012 revision recorded a value of Rs 5,000 per sq.ft, which decreased to Rs 3,350 per sq.ft in the 2017 revision. However, this value increased significantly to Rs 5,000 per sq.ft in 2023, and further to Rs 5,500 per sq.ft in the latest 2024 revision.

Between the revisions, the changes are notable. From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased by 49%, and from 2023 to 2024, there was a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Cantonment Pallavaram

In Cantonment Pallavaram, there are 81 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 11,000 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, placing Indragandhi Road's 2024 figure above that median.

• Ismoil Street: Rs 3,300 per sq.ft (2024)
• Hussain Saheb St: Rs 2,700 per sq.ft (2024)
• Hospital Street: Rs 2,700 per sq.ft (2024)
• Jaganthan Street: Rs 3,300 per sq.ft (2024)
• Janab Ismail Street: Rs 2,700 per sq.ft (2024)
• Jeeva Nagar: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Indragandhi Road

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, the guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Indragandhi Road?

The Sub Registrar Office covering Indragandhi Road is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Cantonment Pallavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value, as it affects the overall cost of the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Indragandhi Road?

The current guideline value of Indragandhi Road is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 5,000 per sq.ft in 2012 to Rs 3,350 per sq.ft in 2017, then increased to Rs 5,000 per sq.ft in 2023, and finally to Rs 5,500 per sq.ft in 2024.

What is the land classification for Indragandhi Road?

Indragandhi Road is classified as Commercial Class I Type - II.

Where can I find the Sub Registrar Office for Indragandhi Road?

The Sub Registrar Office for Indragandhi Road is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for properties on Indragandhi Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 5,500 per sq.ft would incur a total stamp duty and registration fee of Rs 4,95,000.