Guideline Value for INIDIRAJAN (N)

Inidirajan (N) guideline value

The current guideline value for Inidirajan (N) in Ninna Karai village is Rs 660 per sq.ft, effective from 1 July 2024. This area falls under the Chengleput Joint II SRO and is classified as Residential Class I Type - III.

How the guideline value of Inidirajan (N) has changed

The guideline value for Inidirajan (N) has seen several revisions over the years. In 2012, the guideline value was Rs 600 per sq.ft. This value remained until the next revision in 2017, where it decreased to Rs 402 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 600 per sq.ft, which is a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 660 per sq.ft, reflecting a 10% increase from the previous year.

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

Guideline values in Ninna Karai

In Ninna Karai, there are a total of 449 streets under the Chengleput Joint II SRO that carry a 2024 guideline value. These values range from Rs 440 to Rs 3,500 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value for Inidirajan (N) is below this median.

• Indra Nagar Nehru Street (Ward -19): Rs 660 per sq.ft (2024)
• It Avenue (N): Rs 990 per sq.ft (2024)
• Indira Ganthi Nagar (N): Rs 660 per sq.ft (2024)
• India Piston (Pa): Rs 550 per sq.ft (2024)
• Indhu Garden (Sa): Rs 440 per sq.ft (2024)
• Imayavaramban Street (Ward -4): Rs 1,321 per sq.ft (2024)

Stamp duty and registration fee for property in Inidirajan (N)

For a 1,000 sq.ft plot at the current rate of Rs 660 per sq.ft, the guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total to 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 Inidirajan (N)?

The Sub Registrar Office that covers Inidirajan (N) 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 Ninna Karai

The guideline value is an important factor in the registration process when buying or selling property in Ninna Karai. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the public domain.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Inidirajan (N)?

The current guideline value for Inidirajan (N) 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 land classification for Inidirajan (N)?

Inidirajan (N) is classified as Residential Class I Type - III.

What are the stamp duty and registration fees for property in Inidirajan (N)?

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

Where can I find the Sub Registrar Office for Inidirajan (N)?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more information by following the link provided.