Guideline Value for Indhira 1st Street

Indhira 1st Street guideline value

The current guideline value of Indhira 1st Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the Virugambakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Indhira 1st Street has changed

The guideline value for Indhira 1st Street has seen several revisions over the years. In 2012, the guideline value was Rs 3,500 per sq.ft, which then decreased to Rs 2,345 per sq.ft in 2017. Following this, there was a significant increase to Rs 3,500 per sq.ft in 2023, and the latest revision in 2024 set the value at Rs 3,850 per sq.ft, marking a 10% increase from the previous year.

Between the revisions, the changes include a 49% increase from 2017 to 2023, and a decrease of 33% from 2012 to 2017. Notably, the register has no figures for Indhira 1st Street for the years 2002, 2003, and 2007.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,850 per sq.ft, which is equal to the current guideline value of Indhira 1st Street.

• Indhira 2nd Street: Rs 3,850 per sq.ft (2024)
• Indhira Gandhi Salai: Rs 3,850 per sq.ft (2024)
• Indhira Street: Rs 3,850 per sq.ft (2024)
• Indian Bank Colony Kasthuribai Main Road: Rs 4,400 per sq.ft (2024)
• Hospital Road: Rs 4,400 per sq.ft (2024)
• Indira Nagar (1st Main Road) - Annai Kasthuribai Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Indhira 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Indhira 1st Street?

The Sub Registrar Office that covers Indhira 1st Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for additional details.

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

The guideline value plays a crucial role during property transactions in Valasaravakkam. It is used to determine the stamp duty and registration fees that buyers must pay when completing a sale. This ensures that the government receives the appropriate revenue based on the property's assessed value.

When purchasing a property, buyers should be aware that the guideline value may influence the sale price. It is essential to consider this value when negotiating property transactions, as it can affect the overall cost of buying or selling real estate in the area.

Frequently asked questions

What is the current guideline value of Indhira 1st Street?

The current guideline value of Indhira 1st Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, reflecting a 10% rise. The value was Rs 2,345 per sq.ft in 2017, showing a significant increase of 49% by 2023.

What is the land classification for Indhira 1st Street?

Indhira 1st Street is classified as Residential Class II Type - I. This classification is important for determining the applicable guidelines and regulations for property transactions in the area.

Which Sub Registrar Office is responsible for Indhira 1st Street?

The Virugambakkam Sub Registrar Office is responsible for Indhira 1st Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in Indhira 1st Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,69,500.