Guideline Value for Indira Nagar

Indira Nagar guideline value

The current guideline value of Indira Nagar, located in Oragadam village under the Ambattur SRO, is Rs 1,400 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Indira Nagar has changed

The guideline value for Indira Nagar has seen several revisions over the years. Starting from Rs 110 per sq.ft in 2002, it increased to Rs 119 per sq.ft in 2003. The value then rose significantly to Rs 400 per sq.ft in 2007, followed by a substantial jump to Rs 1,300 per sq.ft in 2012. However, it decreased to Rs 871 per sq.ft in 2017 before climbing to Rs 1,300 per sq.ft in 2023, and finally reaching Rs 1,400 per sq.ft in 2024.

Between these revisions, notable changes include an increase of 8% from 2023 to 2024, a 49% increase from 2017 to 2023, and a decrease of 33% from 2012 to 2017. The increase from 2007 to 2012 was 225%, and from 2003 to 2007, it was 236%. Overall, from 2002 to 2024, the guideline value has increased by 1173%.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft. The median value is Rs 2,200 per sq.ft, making the guideline value of Indira Nagar below that median.

• Indira Gandhi Street(V.L.Puram): Rs 2,400 per sq.ft (2024)
• Indira Gandhi Street (Venkateswara Nagar): Rs 1,600 per sq.ft (2024)
• Indira Gandhi Street (1st Ward): Rs 1,300 per sq.ft (2024)
• Indira Gandhi Cross Street (Vijayalakshmipuram): Rs 2,400 per sq.ft (2024)
• Imanuvel Nagar: Rs 2,200 per sq.ft (2024)
• Hussian Street (Ram Nagar): Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Indira Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,400 per sq.ft, the total guideline value would be Rs 14,00,000. The stamp duty at 7% would be Rs 98,000, and the registration fee at 2% would be Rs 28,000, bringing the total to Rs 1,26,000. 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 further calculations.

Which Sub Registrar Office covers Indira Nagar?

The Sub Registrar Office that covers Indira Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Oragadam. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The guideline value is essential for ensuring that the transaction is recorded accurately and that the appropriate taxes are collected by the government.

When selling property, the guideline value helps establish a baseline for the sale price. It ensures that both buyers and sellers have a clear understanding of the minimum value recognized by the authorities, which can help facilitate smoother transactions.

Frequently asked questions

What is the current guideline value of Indira Nagar?

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

How has the guideline value changed over the years?

The guideline value has increased from Rs 110 per sq.ft in 2002 to Rs 1,400 per sq.ft in 2024, showing a significant overall increase of 1173% over the years.

What is the classification of land in Indira Nagar?

Indira Nagar is classified as Residential Class III Type - I, which indicates its designated use for residential purposes.

What are the stamp duty rates for property in Indira Nagar?

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

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

The Sub Registrar Office for Indira Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.