Guideline Value for Indira Gandhi Street

Indira Gandhi Street guideline value

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

How the guideline value of Indira Gandhi Street has changed

The guideline value for Indira Gandhi Street has undergone several revisions over the years. In 2007, the value was Rs 700 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, it then decreased to Rs 1,675 per sq.ft in 2017. Following this, the value saw a notable increase to Rs 2,500 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 2,800 per sq.ft. There are no figures available for the revisions in 2002 and 2003 for this street.

From 2007 to 2012, the guideline value increased by 257%, but then it decreased by 33% from 2012 to 2017. A significant rise of 49% occurred from 2017 to 2023, followed by a 12% increase from 2023 to 2024. Overall, the guideline value has increased by 300% from 2007 to 2024.

Guideline values in Thalakanancherry

In Thalakanancherry, there are 318 streets under the Alandur SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft, with a median value of Rs 3,900 per sq.ft. The guideline value for Indira Gandhi Street is below this median.

• Hindu Office Staff colony: Rs 4,400 per sq.ft (2024)
• Hindu Colony 9th Street: Rs 4,400 per sq.ft (2024)
• Hindu Colony 8th Street: Rs 4,400 per sq.ft (2024)
• Hindu Colony 7th Street: Rs 4,400 per sq.ft (2024)
• Hindu Colony 7th Cross Street: Rs 4,400 per sq.ft (2024)
• Hindu Colony 6th Street: Rs 4,400 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 at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, making the total cost for these fees 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 information.

Which Sub Registrar Office covers Indira Gandhi Street?

The Sub Registrar Office that covers Indira Gandhi Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when buying or selling property in Thalakanancherry. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must be aware of the guideline value to ensure compliance with the legal requirements during the transaction.

When a property is registered, the guideline value is used to calculate the applicable fees, which are based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

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 700 per sq.ft in 2007 to Rs 2,800 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for Indira Gandhi Street?

Indira Gandhi Street is classified as Residential Class II Type - II.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for properties in Thalakanancherry?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 28,00,000 would incur a stamp duty of Rs 1,96,000 at 7%.