Guideline Value for Indira Gandhi Street

Indira Gandhi Street guideline value

The current guideline value of Indira Gandhi Street in Kerugambakkam village is Rs 1,980 per sq.ft, effective from 1 July 2024. This street falls under the Pammal 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 seen several revisions over the years. In the 2017 revision, the value was Rs 1,206 per sq.ft. This increased to Rs 1,800 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent 2024 revision set the guideline value at Rs 1,980 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

Guideline values in Kerugambakkam

In Kerugambakkam, there are 144 streets under the Pammal SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 4,800 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, making the guideline value of Indira Gandhi Street below this median.

• Guru Heera Nagar: Rs 4,190 per sq.ft (2024)
• Jayaram Nagar: Rs 2,750 per sq.ft (2024)
• Jayaram Nagar Extn: Rs 2,750 per sq.ft (2024)
• Kadumpadi Amman Koil Street: Rs 1,760 per sq.ft (2024)
• Gayathri Nagar: Rs 1,980 per sq.ft (2024)
• Kakkanji Street: Rs 1,100 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 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total cost for these fees to Rs 1,78,200. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. 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 Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kerugambakkam. It is used to calculate the stamp duty and registration fees, which are mandatory costs associated with property transactions.

When a property is sold, the guideline value serves as a benchmark for determining the minimum price at which the property can be registered. This ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Indira Gandhi Street?

The current guideline value of Indira Gandhi Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,206 per sq.ft in 2017 to Rs 1,800 per sq.ft in 2023, and then to Rs 1,980 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What is the land classification for Indira Gandhi Street?

Indira Gandhi Street is classified as Residential Class II Type - II. This classification is important for understanding the types of properties and developments permitted in the area.

Which office handles registrations for properties in Kerugambakkam?

The Pammal Sub Registrar Office handles registrations for properties in Kerugambakkam. It is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty of Rs 1,38,600 at a rate of 7%.