Guideline Value for Indhu Nagar

Indhu Nagar guideline value

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

How the guideline value of Indhu Nagar has changed

Over the years, the guideline value of Indhu Nagar has seen several revisions. The 2012 revision set the value at Rs 400 per sq.ft, which remained unchanged until the 2023 revision. In the 2017 revision, the value dropped to Rs 268 per sq.ft, marking a decrease of 33% from the previous figure. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 400 per sq.ft. The 2024 revision has maintained this value at Rs 400 per sq.ft, showing no change from the 2023 revision.

The register does not contain figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 400 per sq.ft.

Guideline values in Salamangalam

In Salamangalam, there are 59 streets under the Sriperumpudur SRO that carry 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 of Indhu Nagar is below this median.

• Indhu Nagar Extn: 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

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, making the total charges Rs 36,000. 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 Indhu Nagar?

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

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

The guideline value plays a crucial role in the registration process of property transactions in Salamangalam. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that both parties are aware of the costs involved in the transaction.

It is essential for buyers and sellers to be informed about the guideline value, as it influences the overall expenses during the registration process. Proper understanding of these values can help in making informed decisions when engaging in property transactions.

Frequently asked questions

What is the current guideline value of Indhu Nagar?

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

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent being Rs 400 per sq.ft in 2024, which is unchanged from 2023. The value was Rs 268 per sq.ft in 2017 and Rs 400 per sq.ft in 2012.

What is the land classification of Indhu Nagar?

Indhu Nagar is classified as Residential Class I Type - I, indicating its designation for residential use.

What are the stamp duty and registration fees for property in Indhu Nagar?

For a property valued at Rs 4,00,000, the stamp duty would be Rs 28,000, and the registration fee would be Rs 8,000, leading to a total of Rs 36,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles property registration for Indhu Nagar?

The Sriperumpudur Sub Registrar Office is responsible for property registration in Indhu Nagar, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.