Guideline Value for Indira Nagar 4th Main Road

Indira Nagar 4th Main Road guideline value

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

How the guideline value of Indira Nagar 4th Main Road has changed

The guideline value for Indira Nagar 4th Main Road has seen several revisions over the years. In 2002, the guideline value was Rs 253 per sq.ft, which increased to Rs 289 per sq.ft in 2003. Following this, the value rose significantly to Rs 650 per sq.ft in 2007, and then to Rs 2,500 per sq.ft in 2012. However, it decreased to Rs 1,675 per sq.ft in 2017 before climbing to Rs 2,500 per sq.ft in 2023. The latest revision in 2024 has set the guideline value at Rs 2,800 per sq.ft.

Examining the changes between these revisions, the guideline value increased by 12% from 2023 to 2024. There was a notable increase of 49% from 2017 to 2023. The value had previously decreased by 33% from 2012 to 2017. The increase from 2007 to 2012 was substantial at 285%, while the rise from 2003 to 2007 was 125%. Lastly, the increase from 2002 to 2003 was 14%. 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 with a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 3,900 per sq.ft, placing Indira Nagar 4th Main Road's 2024 figure below the median.

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

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, making the total cost for these fees Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Indira Nagar 4th Main Road?

The Sub Registrar Office that covers Indira Nagar 4th Main Road 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 an essential factor in property transactions in Adambakkam, as it determines the minimum value at which properties can be registered. When a property is sold, the guideline value is used to calculate the stamp duty and registration fees that need to be paid at the time of registration.

Buyers and sellers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price. This means that even if a property is sold for less than the guideline value, the stamp duty will still be calculated on the guideline value, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Indira Nagar 4th Main Road?

The current guideline value of Indira Nagar 4th Main Road 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 increased from Rs 253 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, showing a significant 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 property registrations for Indira Nagar 4th Main Road?

The Alandur Sub Registrar Office handles property registrations for Indira Nagar 4th Main Road, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for Indira Nagar 4th Main Road?

Indira Nagar 4th Main Road is classified as Residential Class II Type - II, indicating its suitability for residential development.