Guideline Value for Indira Gandhi Street (1st Ward)

Indira Gandhi Street (1st Ward) guideline value

The current guideline value of Indira Gandhi Street (1st Ward) in Oragadam village is Rs 1,300 per sq.ft, effective from 1 July 2024. This street falls under the Ambattur SRO and is classified as Residential Class III Type - II.

How the guideline value of Indira Gandhi Street (1st Ward) has changed

The guideline value for Indira Gandhi Street has undergone several revisions over the years. Starting from the 2007 revision, the value was Rs 300 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012. However, it saw a decrease to Rs 804 per sq.ft in 2017. The value then rose to Rs 1,200 per sq.ft in 2023, before reaching the current figure of Rs 1,300 per sq.ft in 2024.

In terms of percentage changes, the guideline value increased by 300% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then increased by 49% from 2017 to 2023. The latest revision from 2023 to 2024 reflects an increase of 8%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. Indira Gandhi Street (1st Ward) has a guideline value below this median.

• Indira Gandhi Street (Venkateswara Nagar): Rs 1,600 per sq.ft (2024)
• Indira Gandhi Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Indira Nagar: Rs 1,400 per sq.ft (2024)
• Indira Gandhi Cross Street (Vijayalakshmipuram): Rs 2,400 per sq.ft (2024)
• Imanuvel Nagar: Rs 2,200 per sq.ft (2024)
• Hussian Street (Ram Nagar): Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Indira Gandhi Street (1st Ward)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total 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.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Indira Gandhi Street (1st Ward)?

The Sub Registrar Office that covers Indira Gandhi Street (1st Ward) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions as it determines the minimum value at which a property can be registered. When buying or selling property in Oragadam, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transfer of property ownership.

It is essential for buyers and sellers to be aware of the current guideline value as it affects the overall cost of the transaction. Ensuring that the property is valued correctly according to the guideline value can help avoid potential legal issues during the registration process.

Frequently asked questions

What is the current guideline value of Indira Gandhi Street (1st Ward)?

The current guideline value of Indira Gandhi Street (1st Ward) 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 300 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 333% over the years.

What is the land classification of Indira Gandhi Street (1st Ward)?

Indira Gandhi Street (1st Ward) is classified as Residential Class III Type - II.

Which office handles registrations for properties in Indira Gandhi Street (1st Ward)?

The Ambattur Sub Registrar Office handles registrations for properties in Indira Gandhi Street (1st Ward), located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai.

What is the significance of the guideline value when buying property?

The guideline value is used to determine the minimum registration value of a property and is essential for calculating the stamp duty and registration fees during a property transaction.