Guideline Value for Indira Gandhi Street

Indira Gandhi Street guideline value

The current guideline value of Indira Gandhi Street in Chitlapakkam village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - III.

How the guideline value of Indira Gandhi Street has changed

The guideline value of Indira Gandhi Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was later reduced to Rs 1,005 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, the value saw a significant increase of 49%, bringing it back to Rs 1,500 per sq.ft. The latest revision in 2024 raised the guideline value to Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is equal to the current value of Indira Gandhi Street.

• Ilango St: Rs 1,650 per sq.ft (2024)
• Indra Nagar ( Bharatha Madha St): Rs 1,650 per sq.ft (2024)
• Ibrahim Street: Rs 1,650 per sq.ft (2024)
• Homes Road: Rs 4,400 per sq.ft (2024)
• hirumagal Nagar 2st Street: Rs 1,650 per sq.ft (2024)
• Hasimin Street: Rs 1,650 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 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total charges Rs 1,48,500. 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 our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Indira Gandhi Street?

The Sub Registrar Office that covers Indira Gandhi Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Chitlapakkam. It serves as the basis for calculating the stamp duty and registration fees that are required to be paid to the government during the sale or purchase of a property.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to determine the applicable fees. This ensures that the government receives the appropriate revenue from 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 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,500 per sq.ft in 2023 to Rs 1,650 per sq.ft in 2024, marking a 10% increase. It was Rs 1,005 per sq.ft in 2017 and Rs 1,500 per sq.ft in 2012.

What is the classification of Indira Gandhi Street?

Indira Gandhi Street is classified as Residential Class I Type - III under the Tambaram Joint 1 SRO.

Where can I find the Sub Registrar Office for Indira Gandhi Street?

The Sub Registrar Office for Indira Gandhi Street is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.

How is stamp duty calculated for properties in Chitlapakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For instance, the stamp duty for a property valued at Rs 16,50,000 would be 7% of that amount.