Guideline Value for INIDIRAJAN (N)

Inidirajan (N) guideline value

The current guideline value of Inidirajan (N) is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Panangottur village, under the Chengleput Joint II SRO, 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 value was set at Rs 600 per sq.ft, which remained unchanged in the next revision in 2017, where it dropped to Rs 402 per sq.ft. The value then increased significantly to Rs 600 per sq.ft in 2023, marking a 49% rise from the 2017 figure. The latest revision in 2024 has further increased the value to Rs 660 per sq.ft, reflecting a 10% increase from the previous year.

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

Guideline values in Panangottur

In Panangottur village, there are 419 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 990 per sq.ft. The guideline value for Inidirajan (N) is below this median.

• Indra Nagar Nehru Street (Ward -19): Rs 440 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 1,320 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, totaling Rs 59,400. It is important to 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 further calculations.

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 Panangottur

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Panangottur, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

It is essential to be aware of the current guideline value when engaging in property transactions, as it can affect the overall cost involved in the registration process. Buyers and sellers should ensure they are informed about the latest revisions to avoid any discrepancies during the transaction.

Frequently asked questions

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

The current guideline value of 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 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 properties in Inidirajan (N)?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 6,60,000, the total fees would amount to Rs 59,400.

Where is the Sub Registrar Office for Inidirajan (N) located?

The Sub Registrar Office for Inidirajan (N) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.