Guideline Value for Indira Gandhi Street (S.M.Block)

Indira Gandhi Street (S.M.Block) guideline value

The current guideline value of Indira Gandhi Street (S.M.Block) is Rs 4,100 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, and it falls under the Residential Class IV Type - I land classification.

How the guideline value of Indira Gandhi Street (S.M.Block) has changed

The guideline value for Indira Gandhi Street (S.M.Block) has undergone several revisions over the years. The 2012 revision set the value at Rs 3,750 per sq.ft, which later decreased to Rs 2,512 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 3,750 per sq.ft in the 2023 revision, and the most recent revision in 2024 has raised it to Rs 4,100 per sq.ft.

In terms of percentage changes, the value increased by 49% from 2017 to 2023 and by 9% from 2023 to 2024. Overall, from the 2012 revision to the 2024 revision, there has been a 9% increase. The register has no figures for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, which indicates that Indira Gandhi Street (S.M.Block) is below this median.

• Indira Colony 4th Street: Rs 8,800 per sq.ft (2024)
• Indira Colony 3rd Street: Rs 8,800 per sq.ft (2024)
• Indira Colony 2nd Street: Rs 8,800 per sq.ft (2024)
• Indira Colony 1st Street: Rs 8,800 per sq.ft (2024)
• Indira Colony (1st Avenue): Rs 11,000 per sq.ft (2024)
• II Main Road: Rs 4,100 per sq.ft (2024)

Stamp duty and registration fee for property in Indira Gandhi Street (S.M.Block)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,100 per sq.ft, the total guideline value amounts to Rs 41,00,000. The stamp duty at 7% would be Rs 2,87,000, and the registration fee at 2% would be Rs 82,000, bringing the total to Rs 3,69,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Indira Gandhi Street (S.M.Block)?

The Sub Registrar Office covering Indira Gandhi Street (S.M.Block) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Kodambakkam. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these charges are based on the official valuation of the property.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property can be registered. This value is essential for compliance with legal requirements during the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Indira Gandhi Street (S.M.Block)?

The current guideline value of Indira Gandhi Street (S.M.Block) is Rs 4,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,750 per sq.ft in 2012 to Rs 2,512 per sq.ft in 2017, then back to Rs 3,750 per sq.ft in 2023, and finally to Rs 4,100 per sq.ft in 2024.

What is the land classification of Indira Gandhi Street (S.M.Block)?

Indira Gandhi Street (S.M.Block) falls under the Residential Class IV Type - I land classification.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Indira Gandhi Street (S.M.Block) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in Kodambakkam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot valued at Rs 4,100 per sq.ft incurs a total guideline value of Rs 41,00,000, leading to specific stamp duty and registration fees.