Guideline Value for Indhira Street

Indhira Street guideline value

The current guideline value of Indhira Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Indhira Street has changed

In the 2012 revision, the guideline value for Indhira Street was Rs 3,500 per sq.ft. This figure remained unchanged until the 2023 revision, where it was still Rs 3,500 per sq.ft. However, in the 2024 revision, the guideline value increased by 10% to Rs 3,850 per sq.ft.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO with the 2024 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 guideline value of Indhira Street.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total 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. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Indhira Street?

The Sub Registrar Office that covers Indhira 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 crucial factor when buying or selling property in Valasaravakkam, as it determines the minimum value at which properties can be registered. This value is used to calculate the stamp duty and registration fees applicable during the property transaction.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value to avoid any legal issues during registration. This ensures transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Indhira Street?

The current guideline value of Indhira 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 2012 to Rs 3,850 per sq.ft in 2024, marking a 10% increase. There were no changes recorded in the years 2017, 2007, 2003, and 2002 for this street.

What is the land classification for Indhira Street?

Indhira Street is classified as Residential Class II Type - I, which indicates its use for residential purposes.

What are the stamp duty and registration fees for properties on Indhira Street?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Indhira Street?

The Virugambakkam Sub Registrar Office handles registrations for Indhira Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.