Guideline Value for Indira Gandhi Street

Indira Gandhi Street guideline value

The current guideline value of Indira Gandhi Street in Tharamani village is Rs 2,800 per sq.ft, effective from 1 July 2024. This street falls under the Adayar SRO and is classified as Residential Class II Type - I.

How the guideline value of Indira Gandhi Street has changed

The guideline value for Indira Gandhi Street has seen several revisions over the years. In 2002, the guideline value was Rs 159 per sq.ft, which increased to Rs 300 per sq.ft in 2003, marking an increase of 89%. The value then rose significantly to Rs 1,000 per sq.ft in 2007, reflecting a 233% increase. In 2012, the value was Rs 2,500 per sq.ft, showing a substantial increase of 150% from the previous revision. However, it dropped to Rs 1,675 per sq.ft in 2017, a decrease of 33%.

From 2017 to 2023, the guideline value increased to Rs 2,500 per sq.ft, a rise of 49%. The most recent revision in 2024 set the value at Rs 2,800 per sq.ft, representing a 12% increase from 2023. There are no figures available for the years that do not have a record for this street.

Guideline values in Tharamani

In Tharamani, there are 78 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 2,800 per sq.ft, which is equal to the current value of Indira Gandhi Street.

• Janda Street: Rs 2,800 per sq.ft (2024)
• Govindu Street: Rs 2,800 per sq.ft (2024)
• Kalaingar Street: Rs 2,800 per sq.ft (2024)
• Gandhi Street: Rs 2,800 per sq.ft (2024)
• Kamarajar Street: Rs 2,800 per sq.ft (2024)
• Kambar Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Indira Gandhi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty, calculated at 7%, would be Rs 1,96,000, while the registration fee at 2% would be Rs 56,000. Together, the total fees would amount to Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Indira Gandhi Street?

The Sub Registrar Office that covers Indira Gandhi Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for additional information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Tharamani. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. The guideline value ensures that the property is assessed fairly for tax purposes.

When a property is registered, the guideline value helps in calculating the official value of the property, which is essential for legal documentation. Buyers and sellers must be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Indira Gandhi Street?

The current guideline value of Indira Gandhi Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 159 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 1661% over the years.

What are the stamp duty and registration fees for properties on Indira Gandhi Street?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,52,000.

Which office handles property registration for Indira Gandhi Street?

The Adayar Sub Registrar Office handles property registration for Indira Gandhi Street, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

What is the land classification for Indira Gandhi Street?

Indira Gandhi Street is classified as Residential Class II Type - I under the relevant regulations.