Guideline Value for Indira Nagar 2nd Street 1st Cross Street

Indira Nagar 2nd Street 1st Cross Street guideline value

The current guideline value for Indira Nagar 2nd Street 1st Cross Street is Rs 1,500 per sq.ft, effective from 1 July 2024. This street is located in Thirumullaivoyal village and falls under the Ambattur SRO. The land classification for this area is Residential Class III Type - II.

How the guideline value of Indira Nagar 2nd Street 1st Cross Street has changed

The guideline value for Indira Nagar 2nd Street 1st Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,400 per sq.ft, which was then decreased to Rs 938 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,400 per sq.ft, reflecting a rise of 49%. The latest revision in 2024 has further increased the guideline value to Rs 1,500 per sq.ft, which is a 7% increase from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 7%.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 5,500 per sq.ft, with a median value of Rs 2,400 per sq.ft. The guideline value for Indira Nagar 2nd Street 1st Cross Street is below this median.

• Indira Nagar 2nd Street 2nd Cross Street: Rs 1,500 per sq.ft (2024)
• Indira Nagar 2nd Street 3rd Cross Street: Rs 1,500 per sq.ft (2024)
• Indira Nagar 2nd Street 4th Cross Street: Rs 1,500 per sq.ft (2024)
• Indira Nagar 2nd Street 5th Cross Street: Rs 1,500 per sq.ft (2024)
• Indira Nagar 2nd Street 6th Cross Street: Rs 1,500 per sq.ft (2024)
• Indira Nagar 2nd Street: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Indira Nagar 2nd Street 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value amounts to Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total cost for these fees to Rs 1,35,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Indira Nagar 2nd Street 1st Cross Street?

The Sub Registrar Office that covers Indira Nagar 2nd Street 1st Cross Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Thirumullaivoyal, as it determines the minimum price for registration purposes. Buyers and sellers must consider this value to ensure compliance with local regulations during property transactions.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Indira Nagar 2nd Street 1st Cross Street?

The current guideline value for Indira Nagar 2nd Street 1st Cross Street is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,400 per sq.ft in 2023 to Rs 1,500 per sq.ft in 2024. It was Rs 938 per sq.ft in 2017 and Rs 1,400 per sq.ft in 2012.

What is the land classification for Indira Nagar 2nd Street 1st Cross Street?

The land classification for Indira Nagar 2nd Street 1st Cross Street is Residential Class III Type - II.

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

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, on a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 1,35,000.

Which office handles registrations for Indira Nagar 2nd Street 1st Cross Street?

The Ambattur Sub Registrar Office handles registrations for Indira Nagar 2nd Street 1st Cross Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.