Guideline Value for Indira Nagar 1st Street

Indira Nagar 1st Street guideline value

The current guideline value of Indira Nagar 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village and falls under the Sembiam SRO, classified as Residential Class II Type - I.

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

In the 2007 revision, the guideline value was set at Rs 700 per sq.ft. This figure saw a significant increase in the 2012 revision, where it rose to Rs 2,500 per sq.ft, marking a change of +257%. The 2023 revision maintained this value at Rs 2,500 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 2,700 per sq.ft, reflecting an increase of +8% from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by +286%. It is important to note that the register has no figures for the years 2002, 2003, and 2017 for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Indira Nagar 1st Street for 2024 is below this median.

• Indira Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Indira Nagar Avenue: Rs 2,700 per sq.ft (2024)
• Indira Nagar Extension: Rs 2,700 per sq.ft (2024)
• Inner ring Road: Rs 5,500 per sq.ft (2024)
• Hi-Tech City: Rs 4,400 per sq.ft (2024)
• Jaganathan Nagar: Rs 2,700 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees to Rs 2,43,000. 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 1st Street?

The Sub Registrar Office that covers Indira Nagar 1st Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Kolathur. It serves as a benchmark for determining the minimum value of a property, which is crucial for calculating stamp duty and registration fees during the sale process. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements.

When a property is registered, the guideline value helps in assessing the financial implications of the transaction. It ensures that the property is not undervalued, thereby safeguarding the interests of the state and the parties involved in the transaction.

Frequently asked questions

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

The current guideline value of Indira Nagar 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of +286% over the years.

What is the land classification for Indira Nagar 1st Street?

Indira Nagar 1st Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Indira Nagar 1st Street?

The Sub Registrar Office for Indira Nagar 1st Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

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

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 1,89,000.