Guideline Value for Indira Nagar 15th Cross Street

Indira Nagar 15th Cross Street guideline value

The current guideline value of Indira Nagar 15th Cross Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Kazhikundram village and falls under the Adayar SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Indira Nagar 15th Cross Street has changed

The guideline value for Indira Nagar 15th Cross Street has seen several revisions over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 707 per sq.ft. This increased to Rs 1,600 per sq.ft in 2003, marking a significant rise of 126%. Following this, the value continued to rise, reaching Rs 2,750 per sq.ft in 2007, which was an increase of 72%. The value then jumped to Rs 6,000 per sq.ft in 2012, reflecting a substantial growth of 118%. However, it dropped to Rs 4,020 per sq.ft in 2017, a decrease of 33%. The guideline value then rose again to Rs 6,000 per sq.ft in 2023, followed by a further increase to Rs 6,600 per sq.ft in 2024, which is a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 834%. There are no recorded figures for the years not mentioned in this timeline for this street.

Guideline values in Kazhikundram

Kazhikundram village has a total of 68 streets under the Adayar SRO that carry a 2024 guideline value, 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, which is the same as the current guideline value for Indira Nagar 15th Cross Street.

• Indira Nagar 14th Cross Street: Rs 6,600 per sq.ft (2024)
• Indira Nagar 1st Avenue Extension: Rs 9,900 per sq.ft (2024)
• Indira Nagar 13th Street: Rs 6,600 per sq.ft (2024)
• Indira Nagar 1st Avenue Main Road: Rs 9,900 per sq.ft (2024)
• Indira Nagar 13th Cross Street: Rs 6,600 per sq.ft (2024)
• Indira Nagar 1st Cross Street: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in Indira Nagar 15th 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 would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, while the registration fee at 2% would be Rs 1,32,000. Together, these fees would total Rs 5,94,000. 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 details.

Which Sub Registrar Office covers Indira Nagar 15th Cross Street?

The Sub Registrar Office that covers Indira Nagar 15th Cross Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Kazhikundram. It serves as a benchmark for determining the registration fees and stamp duty payable when buying or selling property. The registration office uses this value to ensure that the appropriate taxes are collected based on the property's worth.

When a buyer or seller approaches the registration office, the guideline value is assessed to establish the financial obligations involved in the transaction. This ensures transparency and standardization in property dealings within the region.

Frequently asked questions

What is the current guideline value of Indira Nagar 15th Cross Street?

The current guideline value of Indira Nagar 15th 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, reflecting an overall increase of 834% over the years.

What are the stamp duty and registration fees for properties on this street?

For a 1,000 sq.ft property, the stamp duty would be Rs 4,62,000 and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Which office handles property registrations in this area?

The Adayar Sub Registrar Office handles property registrations for Indira Nagar 15th Cross Street, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

What is the land classification for Indira Nagar 15th Cross Street?

The land classification for Indira Nagar 15th Cross Street is Residential Class II Type - I.