Guideline Value for Indira Nagar 13th Cross Street

Indira Nagar 13th Cross Street guideline value

The current guideline value of Indira Nagar 13th Cross Street in Kazhikundram village is Rs 6,600 per sq.ft, effective from 1 July 2024. This street falls under the Adayar SRO and is classified as Residential Class II Type - I.

How the guideline value of Indira Nagar 13th Cross Street has changed

The guideline value for Indira Nagar 13th Cross Street has undergone several revisions over the years. The earliest recorded figure is from 2002, where the value was Rs 707 per sq.ft. This increased to Rs 1,600 per sq.ft in 2003, marking a significant rise of 126%. The value continued to grow, reaching Rs 3,000 per sq.ft in 2007, which was an increase of 88%. The next revision in 2012 saw a decrease to Rs 6,000 per sq.ft, which was a drop of 33%. However, the value rebounded to Rs 4,020 per sq.ft in 2017, reflecting a 49% increase. The guideline value then rose to Rs 6,000 per sq.ft in 2023, before reaching the current figure of Rs 6,600 per sq.ft in 2024, which is a 10% increase.

Overall, from the initial value in 2002 to the current value in 2024, there has been an increase of 834%. The register does not contain figures for any other years for this street.

Guideline values in Kazhikundram

Kazhikundram village has a total of 68 streets under the Adayar SRO, with guideline values ranging from Rs 2,800 to Rs 12,700 per sq.ft. The median guideline value for these streets is Rs 6,600 per sq.ft, making Indira Nagar 13th Cross Street's 2024 figure equal to this median.

• Indira Nagar 12th Cross Road: Rs 9,900 per sq.ft (2024)
• Indira Nagar 13th Street: Rs 6,600 per sq.ft (2024)
• Indira Nagar 11th Cross Street: Rs 6,600 per sq.ft (2024)
• Indira Nagar 14th Cross Street: Rs 6,600 per sq.ft (2024)
• Indira Nagar 10th Cross Road: Rs 9,900 per sq.ft (2024)
• Indira Nagar 15th Cross Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Indira Nagar 13th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty is charged at 7%, which totals Rs 4,62,000, while the registration fee at 2% amounts to Rs 1,32,000. Therefore, the total cost for stamp duty and registration fee together is Rs 5,94,000. It is important to 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 detailed calculations.

Which Sub Registrar Office covers Indira Nagar 13th Cross Street?

The Sub Registrar Office that covers Indira Nagar 13th Cross Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kazhikundram. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers should be aware that the guideline value is often considered the minimum value for the property, and the actual sale price cannot be lower than this figure.

When engaging in property transactions, it is essential to ensure that the sale price reflects the guideline value, as this will affect the overall costs involved in the registration process. Understanding the guideline value helps buyers and sellers navigate the financial aspects of real estate transactions more effectively.

Frequently asked questions

What is the current guideline value of Indira Nagar 13th Cross Street?

The current guideline value of Indira Nagar 13th Cross Street is Rs 6,600 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 707 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, representing an overall increase of 834% over this period.

What are the other streets in Kazhikundram with similar guideline values?

Other streets in Kazhikundram with a guideline value of Rs 6,600 per sq.ft include Indira Nagar 13th Street, Indira Nagar 11th Cross Street, Indira Nagar 14th Cross Street, and Indira Nagar 15th Cross Street.

Where can I find the Adayar Sub Registrar Office?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is the stamp duty calculated for properties in Indira Nagar 13th Cross Street?

The stamp duty for properties in Indira Nagar 13th Cross Street is calculated at 7% of the guideline value. For example, for a property valued at Rs 66,00,000, the stamp duty would amount to Rs 4,62,000.