Guideline Value for Indira Gandhi Street

Indira Gandhi Street guideline value

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

How the guideline value of Indira Gandhi Street has changed

The guideline value of Indira Gandhi Street has undergone several revisions over the years. In 2002, the value was Rs 605 per sq.ft, which increased to Rs 661 per sq.ft in 2003, marking a 9% rise. The value then saw a significant increase to Rs 1,350 per sq.ft in 2007, reflecting a 104% change. Following this, the value rose to Rs 3,000 per sq.ft in 2012, a substantial 122% increase. However, it decreased to Rs 2,010 per sq.ft in 2017, representing a 33% drop. The value then climbed to Rs 3,000 per sq.ft in 2023, and finally reached Rs 3,300 per sq.ft in the 2024 revision, a 10% increase from the previous year.

There are no figures available for the revisions of this street for the years not listed in the register. The overall change from 2002 to 2024 shows an increase of 445% in the guideline value.

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 Street is below this median.

• Indira Gandhi Road: 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 Street

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, totaling 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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Indira Gandhi Street?

The Sub Registrar Office that covers Indira Gandhi Street 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 when registering a property in Saligramam. It determines the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property is sold, the guideline value is used to calculate the applicable taxes and fees. Buyers and sellers should be aware of the guideline value to ensure compliance with local regulations and to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Indira Gandhi Street?

The current guideline value of Indira Gandhi Street 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 605 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 445%.

What is the land classification for Indira Gandhi Street?

Indira Gandhi Street is classified as Residential Class III Type - I.

Where can I find the registration office for properties in this area?

The registration office for properties in Indira Gandhi Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties on Indira Gandhi Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 2,31,000.