Guideline Value for Indira Nagar 4th Cross Street

Indira Nagar 4th Cross Street guideline value

The current guideline value of Indira Nagar 4th Cross Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village, under the Alandur SRO, and is classified as Residential Class II Type - II.

How the guideline value of Indira Nagar 4th Cross Street has changed

The guideline value for Indira Nagar 4th Cross Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 253 per sq.ft. This increased to Rs 289 per sq.ft in 2003, then to Rs 650 per sq.ft in 2007. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 2,500 per sq.ft, and the most recent 2024 revision set it at Rs 2,800 per sq.ft.

In terms of percentage changes, the value increased by 12% from 2023 to 2024. From 2017 to 2023, there was a significant increase of 49%. However, from 2012 to 2017, the value decreased by 33%. The increase from 2007 to 2012 was substantial at 285%, while the jump from 2003 to 2007 was 125%. The value rose by 14% from 2002 to 2003. 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 value for these streets is Rs 3,900 per sq.ft, placing Indira Nagar 4th Cross Street's 2024 figure below that median.

• Indira Nagar 4th Main Road: Rs 2,800 per sq.ft (2024)
• Indira Nagar 3rd Main road: Rs 2,800 per sq.ft (2024)
• Indira Nagar 5th Cross Street: Rs 2,800 per sq.ft (2024)
• Indira Nagar 3rd Cross Street: Rs 2,800 per sq.ft (2024)
• Indira Nagar 6th Cross Street: Rs 2,800 per sq.ft (2024)
• Indira Nagar 2nd Main Road: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Indira Nagar 4th 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 would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000. Together, the total cost for stamp duty and registration fee would be Rs 2,52,000. It is important to note that 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 4th Cross Street?

The Sub Registrar Office that covers Indira Nagar 4th 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 more information.

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

The guideline value is a crucial factor during the registration of property transactions in Adambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold. The guideline value is set by the government and is periodically revised to reflect changes in the real estate market.

When a property is registered, the stamp duty is 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. Buyers and sellers should be aware of the guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Indira Nagar 4th Cross Street?

The current guideline value of Indira Nagar 4th 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 significantly from Rs 253 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, representing an overall increase of 1007% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000, and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Which office handles registrations for Indira Nagar 4th Cross Street?

The registrations for Indira Nagar 4th Cross Street are handled by the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How does the guideline value affect property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It is important for buyers and sellers to be aware of this value to understand their financial obligations when registering a property.