Guideline Value for Indira Nagar 2nd Cross Street

Indira Nagar 2nd Cross Street guideline value

The current guideline value of Indira Nagar 2nd Cross Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Kazhikundram village and falls under the Adayar SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Indira Nagar 2nd Cross Street has changed

The guideline value for Indira Nagar 2nd Cross Street has undergone several revisions over the years. The earliest recorded revision is from 2007, where the value was Rs 2,250 per sq.ft. This increased significantly to Rs 6,000 per sq.ft in 2012, marking a 167% rise. However, the value then decreased to Rs 4,020 per sq.ft in 2017, reflecting a decline of 33%. The value saw a substantial increase again, reaching Rs 6,000 per sq.ft in 2023, which was a 49% increase from the previous revision. Finally, the current revision in 2024 set the guideline value at Rs 6,600 per sq.ft, a 10% increase from 2023.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 193%.

Guideline values in Kazhikundram

Kazhikundram village has a total of 68 streets under the Adayar SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 12,700 per sq.ft. The median guideline value for these streets is Rs 6,600 per sq.ft, which is equal to the current value of Indira Nagar 2nd Cross Street.

• Indira Nagar 2nd Avenue Extension: Rs 7,700 per sq.ft (2024)
• Indira Nagar 2nd Avenue: Rs 7,700 per sq.ft (2024)
• Indira Nagar 2nd Lane: Rs 6,600 per sq.ft (2024)
• Indira Nagar 2nd Main road: Rs 9,900 per sq.ft (2024)
• Indira Nagar 1st Main Road: Rs 9,900 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 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty, calculated at 7%, would be Rs 4,62,000, while the registration fee at 2% would be Rs 1,32,000. Together, the total cost for these fees would be Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Indira Nagar 2nd Cross Street?

The Sub Registrar Office that covers Indira Nagar 2nd Cross Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20, Chennai registration zone. 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 the registration process when buying or selling property in Kazhikundram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must consider the guideline value to understand the financial implications of the property transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Indira Nagar 2nd Cross Street?

The current guideline value of Indira Nagar 2nd Cross Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 2,250 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 193% over the years.

What are the stamp duty and registration fees for this street?

For a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000, and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Which office handles registrations for Indira Nagar 2nd Cross Street?

The Adayar Sub Registrar Office handles registrations for Indira Nagar 2nd Cross Street, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

What is the land classification for Indira Nagar 2nd Cross Street?

The land classification for Indira Nagar 2nd Cross Street is Residential Class II Type - I, indicating its designated use for residential purposes.