Guideline Value for Indhira Nagar

Indhira Nagar guideline value

The current guideline value of Indhira Nagar, located in Vada Mangalam village under the Sunguvarchattram SRO, is Rs 350 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - III.

How the guideline value of Indhira Nagar has changed

The guideline value for Indhira Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 350 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 234 per sq.ft. However, from 2017 to 2023, the value increased by 50% to Rs 350 per sq.ft. The 2024 revision has kept the guideline value steady at Rs 350 per sq.ft, indicating no change from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has seen no change.

Guideline values in Vada Mangalam

In Vada Mangalam, there are 23 streets under the Sunguvarchattram SRO with a 2024 guideline value ranging from Rs 200 to Rs 400 per sq.ft, where the median value is Rs 250 per sq.ft. The guideline value for Indhira Nagar is above this median.

• Iswarya Lakshmi Nagar: Rs 350 per sq.ft (2024)
• Iswarya Nagar: Rs 350 per sq.ft (2024)
• Kakkan Street: Rs 200 per sq.ft (2024)
• Gandhi Street: Rs 200 per sq.ft (2024)
• Kamarajar Nagar: Rs 350 per sq.ft (2024)
• Kambar 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 350 per sq.ft, the total guideline value amounts to Rs 3,50,000. The stamp duty at 7% would be Rs 24,500, and the registration fee at 2% would be Rs 7,000, together totaling Rs 31,500. 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 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 more details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Vada Mangalam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Indhira Nagar?

The current guideline value of Indhira Nagar is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 350 per sq.ft in 2023 and 2024, while it was Rs 234 per sq.ft in 2017. The value decreased from Rs 350 per sq.ft in 2012 to Rs 234 per sq.ft in 2017.

What is the land classification for Indhira Nagar?

The land classification for Indhira Nagar is Residential Special Type - III, indicating 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 located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is stamp duty calculated for properties in Indhira Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at Rs 350 per sq.ft, the total guideline value is Rs 3,50,000, leading to a stamp duty of Rs 24,500.