Guideline Value for Indira Nagar / Vanuvam Pettai Yerikkarai

Indira Nagar / Vanuvam Pettai Yerikkarai guideline value

The current guideline value for Indira Nagar / Vanuvam Pettai Yerikkarai is Rs 2,800 per sq.ft, effective from 1 July 2024. This area is part of Adambakkam village, under the Alandur SRO, and is classified as Residential Class II Type - II.

How the guideline value of Indira Nagar / Vanuvam Pettai Yerikkarai has changed

The guideline value for this street has seen several revisions over the years. Starting from Rs 253 per sq.ft in 2002, it increased to Rs 289 per sq.ft in 2003. The value then rose significantly to Rs 650 per sq.ft in 2007, followed by a jump to Rs 2,500 per sq.ft in 2012. However, it dropped to Rs 1,675 per sq.ft in 2017. The subsequent revision in 2023 brought it back up to Rs 2,500 per sq.ft, and the latest revision in 2024 set it at Rs 2,800 per sq.ft.

In terms of percentage changes, the guideline value increased by 12% from 2023 to 2024, and by 49% from 2017 to 2023. There was a decrease of 33% from 2012 to 2017, while the value surged by 285% from 2007 to 2012. The increase from 2003 to 2007 was 125%, and from 2002 to 2003, it was 14%. Overall, from 2002 to 2024, the guideline value has increased by 1007%. There are no figures available for revisions in years not listed.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, making the guideline value for Indira Nagar / Vanuvam Pettai Yerikkarai below this median.

• Indira Nagar 6th Cross Street: Rs 2,800 per sq.ft (2024)
• Indira Nagar 5th Cross Street: Rs 2,800 per sq.ft (2024)
• Indira Nagar 4th Main Road: Rs 2,800 per sq.ft (2024)
• Indira Nagar 4th Cross Street: Rs 2,800 per sq.ft (2024)
• Indira Nagar 3rd Main Road: Rs 2,800 per sq.ft (2024)
• Indira Nagar 3rd Cross Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Indira Nagar / Vanuvam Pettai Yerikkarai

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000. Together, the total cost for these fees would be Rs 2,52,000. It is important to note that the 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 information.

Which Sub Registrar Office covers Indira Nagar / Vanuvam Pettai Yerikkarai?

The Sub Registrar Office that covers Indira Nagar / Vanuvam Pettai Yerikkarai is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Adambakkam. It serves as a benchmark for determining the minimum value at which property transactions are registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When a property is sold, the buyer and seller must ensure that the sale price is at least equal to the guideline value to avoid any legal issues during registration. This helps maintain transparency in property transactions and prevents undervaluation of properties.

Frequently asked questions

What is the current guideline value of Indira Nagar / Vanuvam Pettai Yerikkarai?

The current guideline value for Indira Nagar / Vanuvam Pettai Yerikkarai is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 253 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 1007% over this period.

What is the median guideline value for streets in Adambakkam?

The median guideline value for streets in Adambakkam is Rs 3,900 per sq.ft, while Indira Nagar / Vanuvam Pettai Yerikkarai's value is below this median.

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

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Which office handles property registration for Indira Nagar / Vanuvam Pettai Yerikkarai?

The Alandur Sub Registrar Office handles property registration for Indira Nagar / Vanuvam Pettai Yerikkarai, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.