Guideline Value for Indhu Nagar Extn

Indhu Nagar Extn guideline value

The current guideline value for Indhu Nagar Extn is Rs 400 per sq.ft, effective from 1 July 2024. This area is located in Salamangalam village and falls under the Sriperumpudur SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Indhu Nagar Extn has changed

The guideline value for Indhu Nagar Extn has seen several revisions over the years. The earliest recorded revision in 2007 set the value at Rs 45 per sq.ft, which significantly increased to Rs 400 per sq.ft in 2012. However, in 2017, the value decreased to Rs 268 per sq.ft. The 2023 revision maintained the value at Rs 400 per sq.ft, and the same value continues into the 2024 revision, showing no change from the previous year.

From 2007 to 2024, the overall increase in guideline value is 789%. The changes between specific revisions are as follows: from 2007 to 2012, there was a remarkable increase of 789%, followed by a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and remained stable from 2023 to 2024.

Guideline values in Salamangalam

In Salamangalam, there are 59 streets under the Sriperumpudur SRO that have a 2024 guideline value ranging from Rs 200 to Rs 3,100 per sq.ft, with a median value of Rs 500 per sq.ft. The guideline value for Indhu Nagar Extn is below this median.

• Indhu Nagar: Rs 400 per sq.ft (2024)
• Ishwarya Nagar Extension: Rs 600 per sq.ft (2024)
• Guru Vignesh Nagar: Rs 600 per sq.ft (2024)
• Jaya Chitra Nagar: Rs 200 per sq.ft (2024)
• Green city Extension -III: Rs 550 per sq.ft (2024)
• Green City Extension -II: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Indhu Nagar Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total charges to Rs 36,000. 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 accurate calculations based on your specific property details.

Which Sub Registrar Office covers Indhu Nagar Extn?

The Sub Registrar Office that covers Indhu Nagar Extn is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Salamangalam. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When registering a property, the guideline value serves as a baseline for calculating the costs associated with the transaction. This ensures that the government receives the appropriate revenue from property sales, reflecting the value of the property as per the official register.

Frequently asked questions

What is the current guideline value of Indhu Nagar Extn?

The current guideline value of Indhu Nagar Extn is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 45 per sq.ft in 2007 to Rs 400 per sq.ft in 2012, then decreasing to Rs 268 per sq.ft in 2017. It remained at Rs 400 per sq.ft in both 2023 and 2024.

What is the registration office for Indhu Nagar Extn?

The registration office for Indhu Nagar Extn is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

What are the stamp duty rates for properties in Indhu Nagar Extn?

The stamp duty for properties in Indhu Nagar Extn is charged at 7% of the guideline value or the sale price, whichever is higher. The registration fee is charged at 2% of the same.

How is the guideline value determined?

The guideline value is determined by the Registration Department's guideline value register, which is revised periodically. It reflects the value of properties in specific areas based on various factors, including land classification and historical data.