Guideline Value for Indira Nagar - Karaikal Ammaiyar 2nd Cross Street

Indira Nagar - Karaikal Ammaiyar 2nd Cross Street guideline value

The current guideline value of Indira Nagar - Karaikal Ammaiyar 2nd Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village and falls under the Virugambakkam SRO, classified as Residential Class I Type - II.

How the guideline value of Indira Nagar - Karaikal Ammaiyar 2nd Cross Street has changed

The guideline value has seen several revisions over the years. In 2007, the value was Rs 650 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012, marking a rise of 515%. However, this value decreased to Rs 2,680 per sq.ft in 2017, a decline of 33%. The value then rose sharply to Rs 4,000 per sq.ft in 2023, and finally, it reached Rs 4,400 per sq.ft in the 2024 revision, which is a 10% increase from the previous year. The register has no figure for this street in 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the increase is substantial at 577%, reflecting the changes in property values over the years.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value is Rs 3,850 per sq.ft, placing Indira Nagar - Karaikal Ammaiyar 2nd Cross Street's 2024 figure above this median.

• Indira Nagar - Karaikal Ammaiyar 1st Cross Street: Rs 4,400 per sq.ft (2024)
• Indira Nagar - Karaikal Ammaiyar Street: Rs 4,400 per sq.ft (2024)
• Indira Nagar - Rukmani Devi Street: Rs 4,400 per sq.ft (2024)
• Indira Nagar - Dr.Muthulakshmi Street: Rs 4,400 per sq.ft (2024)
• Indira Nagar Annai Therrasa Street: Rs 4,400 per sq.ft (2024)
• Indira Nagar (2nd Main Road) - Kamarajar Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Indira Nagar - Karaikal Ammaiyar 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total fees to Rs 3,96,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Indira Nagar - Karaikal Ammaiyar 2nd Cross Street?

The Indira Nagar - Karaikal Ammaiyar 2nd Cross Street is covered by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Valasaravakkam, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values.

Frequently asked questions

What is the current guideline value of Indira Nagar - Karaikal Ammaiyar 2nd Cross Street?

The current guideline value of Indira Nagar - Karaikal Ammaiyar 2nd Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 650 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, showing an overall increase of 577% over the years.

What are the stamp duty and registration fees for properties in this area?

For a 1,000 sq.ft plot at the current rate, the total guideline value is Rs 44,00,000, with stamp duty at Rs 3,08,000 and registration fee at Rs 88,000, totaling Rs 3,96,000.

Which office handles registrations for this street?

The Virugambakkam Sub Registrar Office handles registrations for Indira Nagar - Karaikal Ammaiyar 2nd Cross Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for Indira Nagar - Karaikal Ammaiyar 2nd Cross Street?

The land classification for Indira Nagar - Karaikal Ammaiyar 2nd Cross Street is Residential Class I Type - II.