Guideline Value for Indhirani Nagar

Indhirani Nagar guideline value

The current guideline value of Indhirani Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Pothur village under the Redhills SRO and is classified as Residential Class I Type - I.

How the guideline value of Indhirani Nagar has changed

The guideline value for Indhirani Nagar has seen several revisions over the years. In 2007, the value was set at Rs 300 per sq.ft, which increased to Rs 500 per sq.ft in 2012. However, it then decreased to Rs 335 per sq.ft in 2017. Following this, the value rose significantly to Rs 500 per sq.ft in 2023 and has now reached Rs 550 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 83%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Pothur

Pothur village has a total of 98 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 330 to Rs 2,000 per sq.ft. The median guideline value in this area is Rs 550 per sq.ft, which is equal to the current value of Indhirani Nagar.

• Hi Fi AVENUE: Rs 550 per sq.ft (2024)
• Indra Nagar: Rs 440 per sq.ft (2024)
• Guru Raghavendra Nagar: Rs 550 per sq.ft (2024)
• Jagadeeswari Nagar Extn.: Rs 440 per sq.ft (2024)
• Jagedeswari Nagar: Rs 550 per sq.ft (2024)
• Jageshwari Nagar: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Indhirani Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty is charged at 7%, which totals Rs 38,500, and the registration fee is 2%, amounting to Rs 11,000. Together, the total fees would be Rs 49,500. It is important to note that 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 Indhirani Nagar?

The Sub Registrar Office that covers Indhirani Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Pothur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider this value to ensure compliance with legal requirements and accurate financial planning.

When a property is registered, the guideline value is used to calculate the applicable fees, which are based on the higher of the guideline value or the actual sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Indhirani Nagar?

The current guideline value of Indhirani Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, marking an overall increase of 83% over this period.

What are the other streets in Pothur with their guideline values?

Other streets in Pothur include Hi Fi AVENUE and Guru Raghavendra Nagar, both at Rs 550 per sq.ft, while Indra Nagar and Jagadeeswari Nagar Extn. are at Rs 440 per sq.ft.

What fees are involved when registering property in Indhirani Nagar?

The fees involved include a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office for Indhirani Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.