Guideline Value for Indira Colony

Indira Colony guideline value

The current guideline value of Indira Colony, located in Tambaram village under the Tambaram Joint 1 SRO, is Rs 1,320 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Indira Colony has changed

The guideline value for Indira Colony has undergone several revisions over the years. In 2002, the value was Rs 450 per sq.ft, which increased to Rs 554 per sq.ft in 2003, marking a change of +23%. The value further rose to Rs 750 per sq.ft in 2007, a +35% increase. By 2012, it reached Rs 1,200 per sq.ft, reflecting a significant increase of +60%. However, in 2017, it dropped to Rs 804 per sq.ft, a decrease of -33%. The value then climbed to Rs 1,200 per sq.ft in 2023, before reaching the current figure of Rs 1,320 per sq.ft in 2024, which is a +10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +193%. There are no figures available for the revisions in years other than those listed.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 8,250 per sq.ft as of 2024. The median value for these streets is Rs 3,300 per sq.ft, placing the guideline value of Indira Colony below this median.

• IDPL Nagar Ext: Rs 1,320 per sq.ft (2024)
• Idpl Nagar: Rs 1,320 per sq.ft (2024)
• Haritha Enclave 9th Street: Rs 3,300 per sq.ft (2024)
• Haritha Enclave 8th Street: Rs 3,300 per sq.ft (2024)
• Haritha Enclave 7th Street: Rs 3,300 per sq.ft (2024)
• Haritha Enclave 6th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Indira Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Indira Colony?

The Sub Registrar Office that covers Indira Colony is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Tambaram. It serves as a benchmark for calculating stamp duty and registration fees, which are mandatory for property transfers. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value is used to determine the applicable duties, which are charged on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Indira Colony?

The current guideline value of Indira Colony is Rs 1,320 per sq.ft as per the 2024 revision, effective from 1 July 2024.

How has the guideline value of Indira Colony changed over the years?

The guideline value has changed several times, starting from Rs 450 per sq.ft in 2002 to the current Rs 1,320 per sq.ft in 2024, reflecting an overall increase of +193% over this period.

What are the other streets in Tambaram with similar guideline values?

Other streets in Tambaram with similar guideline values include IDPL Nagar Ext and Idpl Nagar, both at Rs 1,320 per sq.ft in 2024.

What is the registration fee for property in Indira Colony?

The registration fee for property in Indira Colony is calculated based on the guideline value. For example, for a plot of 1,000 sq.ft at the current rate, the registration fee would be Rs 26,400.

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

The Sub Registrar Office for Indira Colony is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.