Guideline Value for Indira Nagar 1st Cross Street

Indira Nagar 1st Cross Street guideline value

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

How the guideline value of Indira Nagar 1st Cross Street has changed

The guideline value for Indira Nagar 1st Cross Street has undergone several revisions over the years. The 2012 revision set the value at Rs 9,000 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 6,030 per sq.ft. The 2023 revision then increased it to Rs 9,000 per sq.ft, followed by a further increase of 10% to the current value of Rs 9,900 per sq.ft in 2024.

From 2012 to 2024, the overall change has been an increase of 10%. The most significant change occurred between 2017 and 2023, where the value increased by 49%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

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 current value of Indira Nagar 1st Cross Street above this median.

• Indira Nagar 1st Avenue Main Road: Rs 9,900 per sq.ft (2024)
• Indira Nagar 1st Avenue Extension: 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 1st Lane: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Indira Nagar 1st Cross Street

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, bringing the total to Rs 8,91,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Indira Nagar 1st Cross Street?

The Sub Registrar Office that covers Indira Nagar 1st 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 details.

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

The guideline value is a crucial factor in property transactions within Kazhikundram. It is used to determine the stamp duty and registration fees that must be paid at the time of property registration. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction process.

When purchasing property, the guideline value serves as a reference point for the official valuation of the property. This ensures that the transaction is recorded accurately and that the appropriate fees are assessed based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Indira Nagar 1st Cross Street?

The current guideline value of Indira Nagar 1st Cross Street 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 changes, with the most recent increase of 10% from Rs 9,000 per sq.ft in 2023 to Rs 9,900 per sq.ft in 2024. Overall, there has been a 10% increase from 2012 to 2024.

What is the land classification of Indira Nagar 1st Cross Street?

The land classification for Indira Nagar 1st Cross Street is Residential Special Type - I.

What are the stamp duty and registration fees for property here?

For a property valued at Rs 99,00,000, the stamp duty would be Rs 6,93,000 and the registration fee would be Rs 1,98,000, totaling Rs 8,91,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office registers property transactions in this area?

The Adayar Sub Registrar Office is responsible for registering property transactions in the area, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.