Guideline Value for Indira Nagar 1st Avenue Main Road

Indira Nagar 1st Avenue Main Road guideline value

The current guideline value of Indira Nagar 1st Avenue Main Road is Rs 9,900 per sq.ft, effective from 1 July 2024. This street is located in Kazhikundram village, under the Adayar SRO, and is classified as Residential Special Type - I.

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

The guideline value for Indira Nagar 1st Avenue Main Road has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 2,221 per sq.ft. In 2003, it increased slightly to Rs 2,100 per sq.ft. The value then rose significantly to Rs 4,000 per sq.ft in 2007, followed by a substantial increase to Rs 9,000 per sq.ft in 2012. However, in 2017, the value dropped to Rs 6,030 per sq.ft. The 2023 revision saw another increase to Rs 9,000 per sq.ft, and the latest revision in 2024 brought it to Rs 9,900 per sq.ft.

Overall, the changes between revisions indicate a significant increase in the guideline value. From 2002 to 2024, the guideline value has increased by 346%. The most notable increase occurred from 2012 to 2017, where it dropped by 33%, followed by a 49% increase from 2017 to 2023, and a further 10% increase from 2023 to 2024.

Guideline values in Kazhikundram

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

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

For a 1,000 sq.ft plot at the current guideline value of Rs 9,900 per sq.ft, the total guideline value amounts to Rs 99,00,000. The stamp duty at 7% would be Rs 6,93,000, and the registration fee at 2% would be Rs 1,98,000, bringing the total cost for stamp duty and registration fees to Rs 8,91,000. It is important to note that 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 1st Avenue Main Road?

The Sub Registrar Office that covers Indira Nagar 1st Avenue Main Road 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, as it determines the minimum value at which a property can be registered. When buying or selling property in Kazhikundram, the guideline value is used to calculate the stamp duty and registration fees that need to be paid at the time of registration.

It is essential for buyers and sellers to be aware of the current guideline value, as it can significantly affect the overall cost of the transaction. The guideline value serves as a reference point for both parties during negotiations and ensures that the property is valued appropriately within the legal framework.

Frequently asked questions

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

The current guideline value of Indira Nagar 1st Avenue Main Road 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 changed from Rs 2,221 per sq.ft in 2002 to Rs 9,900 per sq.ft in 2024, showing an overall increase of 346% over the years.

What is the land classification for Indira Nagar 1st Avenue Main Road?

Indira Nagar 1st Avenue Main Road is classified as Residential Special Type - I.

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

For a property valued at Rs 99,00,000, the total stamp duty and registration fees would amount to Rs 8,91,000, calculated based on the current guideline value.

Where is the Sub Registrar Office located for this area?

The Adayar Sub Registrar Office, which covers Indira Nagar 1st Avenue Main Road, is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.