Guideline Value for Indhira Nagar

Indhira Nagar guideline value

The current guideline value of Indhira Nagar, located in Molachoor village under the Sunguvarchattram SRO, is Rs 300 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class IV Type - II land classification.

How the guideline value of Indhira Nagar has changed

Looking at the historical revisions, the guideline value for Indhira Nagar was Rs 300 per sq.ft in 2023, unchanged from the previous year. The 2017 revision recorded a guideline value of Rs 201 per sq.ft, which reflects a significant increase of 49% to the 2023 figure. The 2012 revision also had a guideline value of Rs 300 per sq.ft, showing a decrease of 33% from the 2017 figure. Overall, from 2012 to 2024, the guideline value remains unchanged at Rs 300 per sq.ft.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Therefore, the changes in guideline value are only noted from the revisions in 2012, 2017, 2023, and 2024.

Guideline values in Molachoor

In Molachoor village, there are 112 streets under the Sunguvarchattram SRO, with the 2024 guideline values ranging from Rs 300 to Rs 2,000 per sq.ft. The median value for these streets is Rs 600 per sq.ft, placing Indhira Nagar's 2024 figure below this median.

• Irular Kudi iruppu: Rs 700 per sq.ft (2024)
• J.J. Nagar: Rs 300 per sq.ft (2024)
• Golden Nagar: Rs 605 per sq.ft (2024)
• Gnanaprakasam Street: Rs 600 per sq.ft (2024)
• Kaideymilleth Street: Rs 600 per sq.ft (2024)
• Gandhi Street: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Indhira Nagar

For a 1,000 sq.ft plot at the current rate of Rs 300 per sq.ft, the guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, totaling Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Indhira Nagar?

The Sub Registrar Office that covers Indhira Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Molachoor. It is used to determine the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded accurately. Buyers and sellers should be aware of the current guideline value to understand their financial obligations 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 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 300 per sq.ft from 2023 to 2024. There was a 49% increase from Rs 201 per sq.ft in 2017 to Rs 300 per sq.ft in 2023, while it decreased by 33% from 2012 to 2017.

What are the guideline values of other streets in Molachoor?

Other streets in Molachoor have varying guideline values, ranging from Rs 300 to Rs 2,000 per sq.ft. For example, Irular Kudi iruppu has a value of Rs 700 per sq.ft, while J.J. Nagar and Indhira Nagar both have a value of Rs 300 per sq.ft.

Where is the Sub Registrar Office for Indhira Nagar located?

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

How is stamp duty calculated for property in Indhira Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 3,00,000, the stamp duty at 7% would amount to Rs 21,000.