Guideline Value for Indira Gandh Street ( Ward No.23 )

Indira Gandh Street ( Ward No.23 ) guideline value

The current guideline value of Indira Gandh Street (Ward No.23) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Indira Gandh Street ( Ward No.23 ) has changed

The guideline value for Indira Gandh Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision, marking a decrease of 33%. However, the value increased significantly to Rs 1,200 per sq.ft in the 2023 revision, and further rose to Rs 1,300 per sq.ft in the 2024 revision, reflecting an overall increase of 8% from 2012 to 2024.

From 2023 to 2024, the guideline value increased by 8%. The register does not provide figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

Madhavaram village has a range of guideline values for its 1,946 streets, with the 2024 figures ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, placing Indira Gandh Street's 2024 figure below the median.

• Inner ring road: Rs 3,800 per sq.ft (2024)
• Husur Garden (Ward-20): Rs 1,300 per sq.ft (2024)
• Husoor Garden: Rs 1,300 per sq.ft (2024)
• Ishwarya Nagar: Rs 1,300 per sq.ft (2024)
• Iswarya Nagar (Ward-02): Rs 1,300 per sq.ft (2024)
• Iyer Thottam 1st Street (Ponniamman Medu): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Indira Gandh Street ( Ward No.23 )

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total charges to Rs 1,17,000. 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 Indira Gandh Street ( Ward No.23 )?

The Sub Registrar Office that covers Indira Gandh Street (Ward No.23) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Madhavaram. It is used as a benchmark for determining the stamp duty and registration fees when buying or selling property. The fees are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, it is essential to be aware of the current guideline value, as it directly impacts the costs associated with the transaction. Buyers and sellers should ensure that they are informed about the latest revisions to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Indira Gandh Street ( Ward No.23 )?

The current guideline value of Indira Gandh Street (Ward No.23) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What are the other streets in Madhavaram with their guideline values?

Other streets in Madhavaram include Inner ring road at Rs 3,800 per sq.ft, Husur Garden (Ward-20), Husoor Garden, Ishwarya Nagar, Iswarya Nagar (Ward-02), and Iyer Thottam 1st Street (Ponniamman Medu), all at Rs 1,300 per sq.ft.

What are the stamp duty and registration fees for properties in Indira Gandh Street?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000, and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Where is the Sub Registrar Office for Indira Gandh Street located?

The Sub Registrar Office for Indira Gandh Street (Ward No.23) is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.