Guideline Value for Indira Nagar 1st Avenue Extension

Indira Nagar 1st Avenue Extension guideline value

The current guideline value for Indira Nagar 1st Avenue Extension is Rs 9,900 per sq.ft, effective from 1 July 2024. This street is located in Kazhikundram village under the Adayar SRO, and it falls under the Residential Special Type - I land classification.

How the guideline value of Indira Nagar 1st Avenue Extension has changed

The guideline value for Indira Nagar 1st Avenue Extension has undergone several revisions over the years. The earliest recorded figure is from 2003, where it was Rs 2,171 per sq.ft. This increased to Rs 3,600 per sq.ft in 2007, marking a significant rise of 66%. In 2012, the value changed to Rs 9,000 per sq.ft, reflecting a 150% increase from the previous revision. However, in 2017, it dropped to Rs 6,030 per sq.ft, a decrease of 33%. The value then rose to Rs 9,000 per sq.ft in 2023, and finally to Rs 9,900 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 356%. It is noteworthy that there are no figures available for the year 2002 for this street in the register.

Guideline values in Kazhikundram

In Kazhikundram, there are 68 streets under the Adayar SRO with a 2024 guideline value ranging from Rs 2,800 to Rs 12,700 per sq.ft. The median value is Rs 6,600 per sq.ft, making the 2024 figure for Indira Nagar 1st Avenue Extension above that median.

• Indira Nagar 15th Cross Street: Rs 6,600 per sq.ft (2024)
• Indira Nagar 1st Avenue Main Road: Rs 9,900 per sq.ft (2024)
• Indira Nagar 14th Cross Street: Rs 6,600 per sq.ft (2024)
• Indira Nagar 1st Cross Street: Rs 9,900 per sq.ft (2024)
• Indira Nagar 13th Street: Rs 6,600 per sq.ft (2024)
• Indira Nagar 13th Cross Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Indira Nagar 1st Avenue Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 9,900 per sq.ft, the total guideline value would be Rs 99,00,000. The stamp duty at 7% would amount to Rs 6,93,000, and the registration fee at 2% would be Rs 1,98,000. Together, the total cost for these fees would be Rs 8,91,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Indira Nagar 1st Avenue Extension?

The Sub Registrar Office that covers Indira Nagar 1st Avenue Extension 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

When buying or selling property in Kazhikundram, the guideline value is crucial as it determines the stamp duty and registration fees applicable at the time of registration. The guideline value is set by the Registration Department and is used to assess the value of the property for taxation purposes.

It is essential for both buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. Ensuring that the property is registered at the correct guideline value helps in maintaining transparency and compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Indira Nagar 1st Avenue Extension?

The current guideline value of Indira Nagar 1st Avenue Extension is Rs 9,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 2,171 per sq.ft in 2003 to Rs 9,900 per sq.ft in 2024, marking an overall increase of 356% over this period.

What are the other streets in Kazhikundram and their guideline values?

Other streets in Kazhikundram include Indira Nagar 15th Cross Street at Rs 6,600 per sq.ft, Indira Nagar 1st Avenue Main Road at Rs 9,900 per sq.ft, and several others, with values ranging from Rs 6,600 to Rs 9,900 per sq.ft.

Where is the Adayar Sub Registrar Office located?

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

How is stamp duty calculated for properties in Indira Nagar 1st Avenue Extension?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 99,00,000, the stamp duty would be Rs 6,93,000.