Guideline Value for Indira Gandhi Street

Indira Gandhi Street guideline value

The current guideline value of Indira Gandhi Street in Santhavellur village is Rs 200 per sq.ft, effective from 1 July 2024. This street falls under the Sunguvarchattram 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 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 134 per sq.ft. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 200 per sq.ft in the 2023 revision. The 2024 revision has maintained this value, showing no change from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has remained at Rs 200 per sq.ft, indicating stability in this period.

Guideline values in Santhavellur

In Santhavellur, there are 63 streets under the Sunguvarchattram SRO that have a 2024 guideline value ranging from Rs 200 to Rs 2,800 per sq.ft, with a median value of Rs 500 per sq.ft. The guideline value of Indira Gandhi Street is below this median.

• Jacob Garden: Rs 569 per sq.ft (2024)
• JBM Independence Nagar: Rs 500 per sq.ft (2024)
• Jothi Nagar: Rs 600 per sq.ft (2024)
• Ganga Garden C: Rs 305 per sq.ft (2024)
• Ganga Garden B: Rs 305 per sq.ft (2024)
• Ganga Garden A: Rs 305 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 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, resulting in a total of Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, 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 Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Santhavellur. It serves as a benchmark for determining the stamp duty and registration fees that are payable when buying or selling property in the area.

When a property is sold, the guideline value is used to calculate the applicable duties, ensuring that the transaction is compliant with local regulations. Buyers and sellers should be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Indira Gandhi Street?

The current guideline value of Indira Gandhi Street is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft since 2012, with a notable decrease to Rs 134 per sq.ft in 2017, followed by an increase back to Rs 200 per sq.ft in 2023. The 2024 revision has not changed this value.

What is the classification of Indira Gandhi Street?

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

Where can I find the registration office for Indira Gandhi Street?

The registration office for Indira Gandhi Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is stamp duty calculated for property in Santhavellur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000 at 7%.