Guideline Value for Indhira Nagar

Indhira Nagar guideline value

The current guideline value of Indhira Nagar, located in Kottaiyoor village, is Rs 150 per sq.ft, effective from 1 July 2024. This property falls under the jurisdiction of the Sunguvarchattram SRO and is classified as Residential Class III Type - I.

How the guideline value of Indhira Nagar has changed

Over the years, the guideline value for Indhira Nagar has seen several revisions. The 2012 revision set the value at Rs 175 per sq.ft, which was later reduced to Rs 117 per sq.ft in the 2017 revision. The value then remained unchanged at Rs 150 per sq.ft in both the 2023 and 2024 revisions, indicating a 28% increase from 2017 to 2023, but no change from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has decreased by 14%.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. This lack of data means that the changes in the guideline value for those years cannot be assessed.

Guideline values in Kottaiyoor

Kottaiyoor village has 18 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 900 per sq.ft, with a median value of Rs 250 per sq.ft. The guideline value of Indhira Nagar is below this median, indicating its relative position within the village.

• Friends City Layout: Rs 200 per sq.ft (2024)
• Kings Avenue: Rs 250 per sq.ft (2024)
• Kottaiyoor Colony: Rs 150 per sq.ft (2024)
• Kottaiyoor Colony Cross Street: Rs 150 per sq.ft (2024)
• Kullakarai Cross Street: Rs 200 per sq.ft (2024)
• Mariamman Kovil street: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Indhira Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the total guideline value amounts to Rs 1,50,000. The stamp duty at a rate of 7% would be Rs 10,500, and the registration fee at 2% would be Rs 3,000, making the total charges Rs 13,500. 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 Nagar?

The Sub Registrar Office covering Indhira Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a significant role in the registration process when buying or selling property in Kottaiyoor. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that all transactions are conducted transparently and fairly.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers must ensure that they are aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Indhira Nagar?

The current guideline value of Indhira Nagar is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 175 per sq.ft in 2012 to Rs 117 per sq.ft in 2017, remaining at Rs 150 per sq.ft in both 2023 and 2024. Overall, there has been a decrease of 14% from 2012 to 2024.

What is the land classification for Indhira Nagar?

Indhira Nagar is classified as Residential Class III Type - I, which indicates its designated use for residential purposes.

Where can I find the Sub Registrar Office for Indhira Nagar?

The Sub Registrar Office for Indhira Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Indhira Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the guideline value of Rs 150 per sq.ft incurs a total stamp duty of Rs 10,500.