Guideline Value for Indira Nagar 4th Street

Indira Nagar 4th Street guideline value

The current guideline value of Indira Nagar 4th Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - III.

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

The guideline value for Indira Nagar 4th Street has seen significant changes over the years. In 2002, the value was Rs 200 per sq.ft, which increased to Rs 225 per sq.ft in 2003, marking a 13% increase. However, there is no figure available for the year 2007. The value then rose to Rs 3,500 per sq.ft in 2012, but this represented a decline of 33% from Rs 2,345 per sq.ft in 2017. The value increased to Rs 3,500 per sq.ft in 2023, and subsequently to Rs 3,850 per sq.ft in 2024, reflecting a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1825%. The most notable rise occurred from 2003 to 2012, where the value surged by 1456%. The changes from 2017 to 2023 saw an increase of 49%, showcasing the fluctuations in property values over the years.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with a 2024 guideline value range from Rs 3,300 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, placing Indira Nagar 4th Street's 2024 figure below this median.

• Indira Nagar 5th Street: Rs 3,850 per sq.ft (2024)
• Indira Nagar 3rd Street: Rs 3,850 per sq.ft (2024)
• Indira Nagar 6th Street: Rs 3,850 per sq.ft (2024)
• Indira Nagar 2nd Street: Rs 3,850 per sq.ft (2024)
• Indira Nagar 1st Street: Rs 3,850 per sq.ft (2024)
• Indira Gandhi Nagar 6th Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Indira Nagar 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost together to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Indira Nagar 4th Street?

The Sub Registrar Office that covers Indira Nagar 4th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Velachery. It serves as a benchmark for the minimum price at which a property can be registered, ensuring that the transaction is documented at a fair value as per government standards.

When buying or selling property, the guideline value will determine the applicable stamp duty and registration fees. It is essential for buyers and sellers to be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of Indira Nagar 4th Street is Rs 3,850 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 2002 to Rs 3,850 per sq.ft in 2024, representing an overall increase of 1825% over this period.

What is the registration office for Indira Nagar 4th Street?

The registration office for Indira Nagar 4th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in Indira Nagar 4th Street is charged at 7% of the guideline value or the sale price, whichever is higher.

How can I calculate the registration fee for a property?

The registration fee is calculated at 2% of the guideline value. For an accurate calculation, you can use the stamp duty and registration fee calculator.