Guideline Value for Indira Nagar 1st Main Road

Indira Nagar 1st Main Road guideline value

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

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

The guideline value for Indira Nagar 1st Main Road has seen several revisions over the years. In 2007, the value was Rs 5,610 per sq.ft, which increased significantly to Rs 9,000 per sq.ft in 2012, marking a 60% rise. However, it then decreased to Rs 6,030 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 9,000 per sq.ft in 2023, and the most recent revision in 2024 set it at Rs 9,900 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 76%. The register has no figures for the years 2002 and 2003 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 in Kazhikundram is Rs 6,600 per sq.ft, placing Indira Nagar 1st Main Road's 2024 figure above this median.

• Indira Nagar 1st Lane: Rs 6,600 per sq.ft (2024)
• Indira Nagar 1st Cross Street: Rs 9,900 per sq.ft (2024)
• 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)

Stamp duty and registration fee for property in Indira Nagar 1st 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 would be 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, making the total cost for these fees 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Indira Nagar 1st Main Road?

The Sub Registrar Office that covers Indira Nagar 1st 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 in Kazhikundram, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of ownership. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

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

How much has the guideline value changed over the years?

The guideline value has changed from Rs 5,610 per sq.ft in 2007 to Rs 9,900 per sq.ft in 2024, an overall increase of 76%.

What is the median guideline value in Kazhikundram?

The median guideline value in Kazhikundram is Rs 6,600 per sq.ft, with Indira Nagar 1st Main Road's value above this median.

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

For a plot of 1,000 sq.ft at the current guideline value, the total stamp duty and registration fees would amount to Rs 8,91,000.

Where is the Sub Registrar Office for Indira Nagar 1st Main Road located?

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