Guideline Value for Indira Gandhi Road

Indira Gandhi Road guideline value

The current guideline value of Indira Gandhi Road, located in Saligramam village under the Virugambakkam SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - I land classification.

How the guideline value of Indira Gandhi Road has changed

The guideline value for Indira Gandhi Road has seen several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 532 per sq.ft. It increased to Rs 900 per sq.ft in 2003, marking a change of +69%. The value continued to rise, reaching Rs 1,350 per sq.ft in 2007, which was a +50% increase. In 2012, the value was Rs 3,000 per sq.ft, reflecting a significant jump of +122%. However, it then decreased to Rs 2,010 per sq.ft in 2017, a drop of -33%. The 2023 revision saw the value rise again to Rs 3,000 per sq.ft, and the most recent revision in 2024 set the value at Rs 3,300 per sq.ft, marking a +10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +520%. The register has no figures for the years not listed in this article.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. The guideline value of Indira Gandhi Road is below this median.

• Indira Gandhi Street: Rs 3,300 per sq.ft (2024)
• Harikrishna Street: Rs 3,300 per sq.ft (2024)
• Janakiraman Street: Rs 3,300 per sq.ft (2024)
• Govindasamy Street: Rs 3,300 per sq.ft (2024)
• Jayaprakashnarayanan Street: Rs 3,300 per sq.ft (2024)
• Gangaiamman Koil Street: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Indira Gandhi Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Indira Gandhi Road?

The Sub Registrar Office that covers Indira Gandhi Road is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property. It determines the amount of stamp duty and registration fees that must be paid, ensuring that the transaction is in compliance with local regulations.

When a property is sold, the guideline value is used to assess the minimum value for taxation purposes. Buyers and sellers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be used to calculate the applicable fees.

Frequently asked questions

What is the current guideline value of Indira Gandhi Road?

The current guideline value of Indira Gandhi Road is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 532 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of +520% over the years.

What is the land classification for Indira Gandhi Road?

Indira Gandhi Road falls under the Residential Class III Type - I land classification.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers the registration for Indira Gandhi Road?

The Virugambakkam Sub Registrar Office covers the registration for Indira Gandhi Road, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.