Guideline Value for Indira Gandhi Street

Indira Gandhi Street guideline value

The current guideline value of Indira Gandhi Street is Rs 440 per sq.ft, effective from 1 July 2024. This street is located in Vengambakkam village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Indira Gandhi Street has changed

Over the years, the guideline value of Indira Gandhi Street has seen several revisions. The 2012 revision set the value at Rs 400 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 268 per sq.ft, marking a decrease of 33%. The 2023 revision then increased the value to Rs 400 per sq.ft, and the most recent 2024 revision has raised it further to Rs 440 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. The overall change from the 2012 revision to the 2024 revision is an increase of 10%.

Guideline values in Vengambakkam

In Vengambakkam, there are 88 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 440 to Rs 5,000 per sq.ft. The median guideline value for these streets is Rs 770 per sq.ft, placing Indira Gandhi Street's 2024 value below this median.

• Indira Gandhi Nagar: Rs 440 per sq.ft (2024)
• Jagajeevan Ram Street: Rs 550 per sq.ft (2024)
• Jayapaul Street: Rs 550 per sq.ft (2024)
• Green Square City: Rs 2,970 per sq.ft (2024)
• Kakanji Street: Rs 440 per sq.ft (2024)
• Kalaingar Street: Rs 440 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 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, while the registration fee at 2% would be Rs 8,800, bringing the total to Rs 39,600. Please note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

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 information.

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

The guideline value plays a crucial role during property registration in Vengambakkam. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. The authorities use this value to ensure that the transaction is recorded accurately and that the appropriate taxes are collected.

When buyers and sellers agree on a sale price, the guideline value will be compared to this price. The higher of the two values will be used to calculate the stamp duty, ensuring that the government receives the correct amount based on the property's assessed worth.

Frequently asked questions

What is the current guideline value of Indira Gandhi Street?

The current guideline value of Indira Gandhi Street is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then back to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What is the median guideline value for streets in Vengambakkam?

The median guideline value for streets in Vengambakkam is Rs 770 per sq.ft, making Indira Gandhi Street's 2024 value below this median.

What are the stamp duty and registration fees for properties in Indira Gandhi Street?

For a 1,000 sq.ft plot at Rs 440 per sq.ft, the total guideline value is Rs 4,40,000. The stamp duty would be Rs 30,800, and the registration fee would be Rs 8,800, totaling Rs 39,600.

Which office handles the registration for Indira Gandhi Street?

The Tambaram Joint 1 Sub Registrar Office handles the registration for Indira Gandhi Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.