Guideline Value for Indira Cross Street

Indira Cross Street guideline value

The current guideline value of Indira Cross Street in Ullagaram village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Alandur Sub Registrar Office (SRO) and is classified as Residential Class II Type - II.

How the guideline value of Indira Cross Street has changed

The guideline value of Indira Cross Street has seen significant changes over the years. In 2002, the guideline value was Rs 172 per sq.ft. This figure increased to Rs 193 per sq.ft in 2003, marking a 12% rise. The value then surged dramatically to Rs 1,000 per sq.ft in 2007, reflecting a 418% increase. Following this, the value rose to Rs 2,000 per sq.ft in 2012, which was a 100% increase from the previous revision. However, between 2012 and 2017, the value decreased to Rs 1,340 per sq.ft, a drop of 33%. The guideline value then increased to Rs 2,000 per sq.ft in 2023, and most recently, it rose to Rs 2,200 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1,179%. There are no figures available for the years not mentioned in the revisions for this street.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft, with a median value of Rs 2,800 per sq.ft. The guideline value of Indira Cross Street is below this median.

• Hindu Colony Main road: Rs 4,400 per sq.ft (2024)
• Indira Street Main: Rs 2,200 per sq.ft (2024)
• Hindu Colony 2nd Main Road: Rs 4,400 per sq.ft (2024)
• Hindu Colony 1st Main Road: Rs 4,400 per sq.ft (2024)
• Jagathambal Colony: Rs 3,900 per sq.ft (2024)
• Jagathambal Nagar: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Indira Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Indira Cross Street?

The Sub Registrar Office that covers Indira Cross Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Ullagaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the buying or selling process. Buyers and sellers must consider the guideline value to ensure compliance with local regulations.

When a property is registered, the guideline value is compared to the sale price, and the duty is charged based on the higher of the two. 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 Cross Street?

The current guideline value of Indira Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 172 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1,179% over this period.

What is the land classification for Indira Cross Street?

Indira Cross Street is classified as Residential Class II Type - II.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.