Guideline Value for Indhumathi Nagar

Indhumathi Nagar guideline value

The current guideline value of Indhumathi Nagar is Rs 1,430 per sq.ft, effective from 1 July 2024. This area is located in Manimangalam A village, under the Padappai SRO, and is classified as Residential Special Type - I.

How the guideline value of Indhumathi Nagar has changed

The guideline value for Indhumathi Nagar has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,430 per sq.ft, an increase from Rs 1,300 per sq.ft in 2023, marking a rise of 10%. Prior to that, in 2017, the guideline value was Rs 871 per sq.ft, indicating a significant increase of 49% from 2017 to 2023. Overall, from 2017 to 2024, the guideline value has risen by 64%.

There are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in Manimangalam A

In Manimangalam A village, there are 112 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 2,500 per sq.ft. The median value among these streets is Rs 880 per sq.ft, positioning Indhumathi Nagar's 2024 value above this median.

• Hasim Garden: Rs 880 per sq.ft (2024)
• Hanif Nagar: Rs 770 per sq.ft (2024)
• Gurukkal Street: Rs 880 per sq.ft (2024)
• Green City: Rs 1,430 per sq.ft (2024)
• Ganga Nagar: Rs 880 per sq.ft (2024)
• JK Avenue: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Indhumathi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,430 per sq.ft, the guideline value amounts to Rs 14,30,000. The stamp duty at 7% would be Rs 1,00,100, and the registration fee at 2% would be Rs 28,600, bringing the total to Rs 1,28,700. 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 information.

Which Sub Registrar Office covers Indhumathi Nagar?

The Sub Registrar Office that covers Indhumathi Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

To locate your SRO, visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Manimangalam A. It determines the amount of stamp duty and registration fees that must be paid, which are calculated based on the guideline value or the sale price, whichever is higher.

When a buyer registers a property, they must ensure that the transaction adheres to the guideline value set by the Registration Department. This helps maintain transparency and standardization in property transactions within the area.

Frequently asked questions

What is the current guideline value of Indhumathi Nagar?

The current guideline value of Indhumathi Nagar is Rs 1,430 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed from 2017 to 2024?

From 2017 to 2024, the guideline value of Indhumathi Nagar has increased by 64%, rising from Rs 871 per sq.ft to Rs 1,430 per sq.ft.

What are the stamp duty and registration fees for Indhumathi Nagar?

The stamp duty for a property valued at Rs 14,30,000 is Rs 1,00,100, and the registration fee is Rs 28,600, totaling Rs 1,28,700.

Which Sub Registrar Office covers Indhumathi Nagar?

The Padappai Sub Registrar Office covers Indhumathi Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification of Indhumathi Nagar?

Indhumathi Nagar is classified as Residential Special Type - I, indicating its designated use for residential purposes.