Guideline Value for Indira Gandhi Street

Indira Gandhi Street guideline value

The current guideline value of Indira Gandhi Street is Rs 100 per sq.ft, effective from 1 July 2024. This street is located in Amarampedu village, under the Sriperumpudur SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Indira Gandhi Street has changed

The guideline value for Indira Gandhi Street has undergone several revisions over the years. The register shows that in 2012, the value was Rs 100 per sq.ft, which remained unchanged in the 2023 revision. However, the 2017 revision marked a decrease to Rs 67 per sq.ft, representing a decline of 33%. From 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 100 per sq.ft. The 2024 revision has maintained this value, resulting in no overall change from 2012 to 2024.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Amarampedu

In Amarampedu, there are 45 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 500 per sq.ft. The median value for these streets is Rs 200 per sq.ft, indicating that the guideline value for Indira Gandhi Street is below this median.

• Jai Nagar: Rs 350 per sq.ft (2024)
• Kalaignar Street: Rs 150 per sq.ft (2024)
• Kamarajar Street: Rs 200 per sq.ft (2024)
• Fab City: Rs 150 per sq.ft (2024)
• Kanniamman Koil Street: Rs 150 per sq.ft (2024)
• Kannika Parameswari Nagar: Rs 200 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 rate of Rs 100 per sq.ft, the guideline value amounts to Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, totaling Rs 9,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

To calculate your potential costs, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Indira Gandhi Street?

The Indira Gandhi Street is covered by the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Amarampedu. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is documented at a fair value as per government regulations.

Buyers and sellers must be aware that the guideline value is updated periodically, and it is essential to check the current rates before proceeding with any property transaction. This ensures compliance with legal requirements and helps in accurate financial planning.

Frequently asked questions

What is the current guideline value of Indira Gandhi Street?

The current guideline value of Indira Gandhi Street is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 100 per sq.ft in the 2012, 2023, and 2024 revisions. It decreased to Rs 67 per sq.ft in 2017, which was a 33% drop from 2012, followed by a 49% increase from 2017 to 2023.

What is the land classification for Indira Gandhi Street?

Indira Gandhi Street is classified as Residential Class IV Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 1,00,000, the stamp duty would be Rs 7,000, and the registration fee would be Rs 2,000, totaling Rs 9,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Indira Gandhi Street located?

The Sriperumpudur Sub Registrar Office is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. This office handles the registration of properties in the area.