Guideline Value for Indira Gandhi Nagar

Indira Gandhi Nagar guideline value

The current guideline value of Indira Gandhi Nagar, located in Satthankadu village under the Thiruvottiyur SRO, is Rs 3,400 per sq.ft, effective from 1 July 2024. This area falls under the Residential Special Type - III land classification.

How the guideline value of Indira Gandhi Nagar has changed

The guideline value for Indira Gandhi Nagar has seen several revisions over the years. In 2002, the guideline value was Rs 118 per sq.ft, which increased to Rs 137 per sq.ft in 2003. The value then rose significantly to Rs 500 per sq.ft in 2007, followed by a substantial jump to Rs 3,100 per sq.ft in 2012. However, it decreased to Rs 2,077 per sq.ft in 2017 before climbing back to Rs 3,100 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 3,400 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 2,781%. The revisions for the years 2017, 2012, and 2007 show a mix of increases and decreases, with the most notable change being a 520% increase from 2007 to 2012. The register has no figure for the years not mentioned in the provided list.

Guideline values in Satthankadu

In Satthankadu, there are 71 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 3,400 per sq.ft, which is the same as the current value for Indira Gandhi Nagar.

• Iluppai Thopu: Rs 3,400 per sq.ft (2024)
• Jagannatha Gramani Thottam: Rs 3,400 per sq.ft (2024)
• Janagiammal Estate: Rs 3,400 per sq.ft (2024)
• Jandravar Street: Rs 2,800 per sq.ft (2024)
• GirijaNagar: Rs 3,400 per sq.ft (2024)
• Ganthi Nagar Link Road: Rs 3,400 per sq.ft (2024)

Stamp duty and registration fee for property in Indira Gandhi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,400 per sq.ft, the total guideline value would be Rs 34,00,000. The stamp duty at 7% would amount to Rs 2,38,000, and the registration fee at 2% would be Rs 68,000, bringing the total cost for these fees to Rs 3,06,000. 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 Gandhi Nagar?

The Sub Registrar Office that covers Indira Gandhi Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more details.

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

The guideline value is a crucial factor in determining the stamp duty and registration fees when buying or selling property in Satthankadu. It serves as a benchmark for the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When a property is sold, the actual sale price is compared with the guideline value. The higher of the two is used to calculate the applicable stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value for Indira Gandhi Nagar?

The current guideline value for Indira Gandhi Nagar is Rs 3,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 118 per sq.ft in 2002 to Rs 3,400 per sq.ft in 2024, reflecting an overall increase of 2,781% over this period.

What is the stamp duty rate for properties in Indira Gandhi Nagar?

The stamp duty rate for properties in Indira Gandhi Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where is the Thiruvottiyur Sub Registrar Office located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What other streets in Satthankadu have the same guideline value?

Other streets in Satthankadu with the same guideline value of Rs 3,400 per sq.ft include Iluppai Thopu, Jagannatha Gramani Thottam, Janagiammal Estate, GirijaNagar, and Ganthi Nagar Link Road.