Guideline Value for Indhira 2nd Street

Indhira 2nd Street guideline value

The current guideline value of Indhira 2nd 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 it is classified as Residential Class II Type - I.

How the guideline value of Indhira 2nd Street has changed

Over the years, the guideline value of Indhira 2nd Street has seen several revisions. The earliest recorded figure is from 2012, which was Rs 3,500 per sq.ft. In 2017, the value decreased to Rs 2,345 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 3,500 per sq.ft. The latest revision in 2024 has set the guideline value at Rs 3,850 per sq.ft, reflecting a 10% increase from the previous year.

There are no recorded figures for the years 2002, 2003, and 2007 for Indhira 2nd Street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

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 is Rs 3,850 per sq.ft, which is equal to the current value of Indhira 2nd Street.

• Indhira 1st 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 2nd Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. 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 details.

Which Sub Registrar Office covers Indhira 2nd Street?

The Sub Registrar Office that covers Indhira 2nd 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 more information.

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

The guideline value is a critical factor when buying or selling property in Valasaravakkam. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that both parties are aware of the official value of the property. This value is essential for the legal documentation process during property transactions.

When a property is sold, the guideline value is used to calculate the applicable charges, which include stamp duty and registration fees. It is important for buyers and sellers to be aware of these values to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of Indhira 2nd Street?

The current guideline value of Indhira 2nd 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 from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, which is a 10% increase. It was Rs 2,345 per sq.ft in 2017 and Rs 3,500 per sq.ft in 2012.

What is the land classification for Indhira 2nd Street?

Indhira 2nd Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Indhira 2nd Street?

The Sub Registrar Office for Indhira 2nd Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in Indhira 2nd 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 and registration fees would amount to Rs 3,46,500.