Guideline Value for Indira Nagar (ward 2)

Indira Nagar (ward 2) guideline value

The current guideline value of Indira Nagar (ward 2) is Rs 990 per sq.ft, effective from 1 July 2024. This area is located in Periyapanancheri village, under the Pammal SRO, and is classified as Residential Class III Type - I.

How the guideline value of Indira Nagar (ward 2) has changed

The guideline value for Indira Nagar (ward 2) has seen several revisions over the years. The 2017 revision set the value at Rs 603 per sq.ft. This was followed by a significant increase in the 2023 revision, where the value rose to Rs 900 per sq.ft, marking a 49% increase. The most recent revision in 2024 has further increased the guideline value to Rs 990 per sq.ft, reflecting a 10% rise from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for this street in the revisions of 2002, 2003, 2007, and 2012.

Guideline values in Periyapanancheri

In Periyapanancheri, there are 33 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 990 to Rs 4,925 per sq.ft. The median value for these streets is Rs 1,320 per sq.ft, placing Indira Nagar (ward 2) below this median.

• G.T.Krishnan Avenue Annexe: Rs 1,650 per sq.ft (2024)
• Govinthammal Street: Rs 990 per sq.ft (2024)
• Govindaraj Street: Rs 990 per sq.ft (2024)
• J.S. Tower: Rs 2,200 per sq.ft (2024)
• Gopal Street: Rs 1,650 per sq.ft (2024)
• Golden Avenue: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Indira Nagar (ward 2)

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total cost to Rs 89,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Indira Nagar (ward 2)?

The Sub Registrar Office that covers Indira Nagar (ward 2) 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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Periyapanancheri. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately and fairly.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for the legal transfer of ownership. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations during the transaction.

Frequently asked questions

What is the current guideline value of Indira Nagar (ward 2)?

The current guideline value of Indira Nagar (ward 2) is Rs 990 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed from 2017 to 2024?

From the 2017 revision to the 2024 revision, the guideline value has increased by 64%, rising from Rs 603 per sq.ft to Rs 990 per sq.ft.

What is the median guideline value in Periyapanancheri?

The median guideline value in Periyapanancheri for 2024 is Rs 1,320 per sq.ft, with Indira Nagar (ward 2) being below this median.

What are the stamp duty rates applicable in Indira Nagar (ward 2)?

The stamp duty rate in Indira Nagar (ward 2) is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Pammal Sub Registrar Office located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.