Guideline Value for Indira Nagar 2nd Street

Indira Nagar 2nd Street guideline value

The current guideline value of Indira Nagar 2nd 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 has changed

The guideline value for Indira Nagar 2nd Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 200 per sq.ft. This increased significantly to Rs 1,400 per sq.ft in 2012, marking a substantial rise of 600%. However, in 2017, the value decreased to Rs 938 per sq.ft, a drop of 33%. The 2023 revision set the value at Rs 1,400 per sq.ft, which then increased to Rs 1,500 per sq.ft in 2024, reflecting a change of 7%.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 650%.

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. The median value for these streets is Rs 2,400 per sq.ft, indicating that the guideline value for Indira Nagar 2nd Street is below this median.

• Indira Nagar 2nd Street 1st Cross Street: Rs 1,500 per sq.ft (2024)
• 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)

Stamp duty and registration fee for property in Indira Nagar 2nd 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 fees to Rs 1,35,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Indira Nagar 2nd Street?

The Sub Registrar Office that covers Indira Nagar 2nd 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 in the registration of property transactions in Thirumullaivoyal. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring compliance with local regulations.

When buying or selling property, 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 sale price, which can influence the overall cost of the transaction.

Frequently asked questions

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

The current guideline value of Indira Nagar 2nd 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 significantly from Rs 200 per sq.ft in 2007 to Rs 1,500 per sq.ft in 2024, with various revisions in between.

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

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

What is the registration office for Indira Nagar 2nd Street?

The registration office for Indira Nagar 2nd Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone.

How is the stamp duty calculated for properties in Indira Nagar 2nd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 15,00,000 would incur a stamp duty of Rs 1,05,000 at a rate of 7%.