Guideline Value for Indhira Gandhi Salai

Indhira Gandhi Salai guideline value

The current guideline value of Indhira Gandhi Salai 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 falls under the Residential Class II Type - I land classification.

How the guideline value of Indhira Gandhi Salai has changed

The guideline value for Indhira Gandhi Salai has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 3,850 per sq.ft, which is an increase of 10% from the 2023 figure of Rs 3,500 per sq.ft. The 2023 revision did not change from the 2012 figure, which was also Rs 3,500 per sq.ft. Notably, there are no figures available for the revisions in 2017, 2007, 2003, and 2002 for this street.

Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value. The consistency in the 2012 and 2023 revisions indicates stability in the value during that period.

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 value for these streets in 2024 is Rs 3,850 per sq.ft, which is equal to the guideline value of Indhira Gandhi Salai.

• Indhira 2nd Street: Rs 3,850 per sq.ft (2024)
• Indhira 1st Street: 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 Gandhi Salai

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 fees together 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Indhira Gandhi Salai?

The Indhira Gandhi Salai is covered by 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 plays a crucial role during property registration in Valasaravakkam. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. The fees are calculated based on the guideline value or the sale price, whichever is higher.

When engaging in a property transaction, it is essential to be aware of the current guideline value, as it directly impacts the overall cost involved in the registration process. Buyers and sellers should ensure they are informed about the latest figures to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of Indhira Gandhi Salai?

The current guideline value of Indhira Gandhi Salai 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, marking a 10% increase. There was no change from 2012 to 2023, and the overall increase from 2012 to 2024 is also 10%.

What are the other streets in Valasaravakkam with similar guideline values?

Other streets in Valasaravakkam with a guideline value of Rs 3,850 per sq.ft include Indhira 2nd Street, Indhira 1st Street, and Indhira Street.

What fees are associated with buying property in Indhira Gandhi Salai?

When buying property in Indhira Gandhi Salai, the stamp duty is 7% of the guideline value, while the registration fee is 2%. These fees are calculated based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Indhira Gandhi Salai located?

The Sub Registrar Office covering Indhira Gandhi Salai is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.