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 2,800 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village and falls under the Alandur SRO. The land classification for this area is Residential Class II Type - II.

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

The guideline value for Indira Nagar 2nd Cross Street has seen several revisions over the years. The earliest recorded value was Rs 253 per sq.ft in 2002. This increased to Rs 289 per sq.ft in 2003, marking a 14% rise. The value then rose significantly to Rs 650 per sq.ft in 2007, representing a 125% increase. In 2012, the guideline value was Rs 2,500 per sq.ft, which was a substantial increase of 285% from the previous revision. However, this value decreased to Rs 1,675 per sq.ft in 2017, reflecting a decline of 33%. The value then increased to Rs 2,500 per sq.ft in 2023, followed by a rise to the current value of Rs 2,800 per sq.ft in 2024, which is a 12% increase.

There are no figures available for the years between the revisions listed above. Overall, from 2002 to 2024, the guideline value has increased by 1007%.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, placing Indira Nagar 2nd Cross Street's 2024 figure below that median.

• Indira Nagar 2nd Main Road: Rs 2,800 per sq.ft (2024)
• Indira Nagar 1st Main Road: Rs 2,800 per sq.ft (2024)
• Indira Nagar 1st Cross Street: Rs 2,800 per sq.ft (2024)
• Indira Nagar 3rd Cross Street: Rs 2,800 per sq.ft (2024)
• Indira Nagar 3rd Main road: Rs 2,800 per sq.ft (2024)
• Indira Nagar 4th Cross Street: Rs 2,800 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 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total cost for stamp duty and registration fees to Rs 2,52,000. 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 2nd Cross Street?

The Sub Registrar Office that covers Indira Nagar 2nd Cross Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for additional information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Adambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from transactions.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can impact the total cost of the transaction.

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 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 253 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 1007% over the years.

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

Indira Nagar 2nd Cross Street is classified as Residential Class II Type - II.

Where can I find information on stamp duty and registration fees?

You can find information on stamp duty and registration fees using the stamp duty and registration fee calculator.

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

The Alandur Sub Registrar Office handles registrations for Indira Nagar 2nd Cross Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.