Guideline Value for Indira Gandhi Nagar

Indira Gandhi Nagar guideline value

The current guideline value of Indira Gandhi Nagar is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Vengambakkam village and falls under the Tambaram Joint 1 SRO with a land classification of Residential Class I Type - III.

How the guideline value of Indira Gandhi Nagar has changed

The guideline value for Indira Gandhi Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 400 per sq.ft, which then decreased to Rs 268 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 400 per sq.ft, and the latest revision in 2024 has raised it further to Rs 440 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The changes between revisions show a significant rise of 49% from 2017 to 2023, while the value dropped by 33% from 2012 to 2017. There are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Vengambakkam

In Vengambakkam, there are 88 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 440 to Rs 5,000 per sq.ft. The median guideline value for these streets is Rs 770 per sq.ft, indicating that the guideline value for Indira Gandhi Nagar is below this median.

• Indira Gandhi Street: Rs 440 per sq.ft (2024)
• Jagajeevan Ram Street: Rs 550 per sq.ft (2024)
• Jayapaul Street: Rs 550 per sq.ft (2024)
• Green Square City: Rs 2,970 per sq.ft (2024)
• Kakanji Street: Rs 440 per sq.ft (2024)
• Kalaingar Street: Rs 440 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 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, leading to a combined cost of Rs 39,600. It is important to note that duty is charged on the higher of the guideline value or the sale price. For further calculations, 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 Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Vengambakkam. It is used to determine the stamp duty and registration fees payable when buying or selling property in the area.

When a property is registered, the guideline value is considered to ensure that the transaction reflects a fair value for taxation purposes. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher amount will be used for calculating duties and fees.

Frequently asked questions

What is the current guideline value of Indira Gandhi Nagar?

The current guideline value of Indira Gandhi Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then back to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What is the median guideline value in Vengambakkam?

The median guideline value for streets in Vengambakkam is Rs 770 per sq.ft, which indicates that Indira Gandhi Nagar's value is below this median.

What are the stamp duty and registration fees for property in Indira Gandhi Nagar?

For a 1,000 sq.ft plot, the total guideline value is Rs 4,40,000, with a stamp duty of Rs 30,800 and a registration fee of Rs 8,800, totaling Rs 39,600.

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

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