Guideline Value for Indira Nagar 5th Lane

Indira Nagar 5th Lane guideline value

The current guideline value of Indira Nagar 5th Lane is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Kazhikundram village and falls under the Adayar SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Indira Nagar 5th Lane has changed

The guideline value for Indira Nagar 5th Lane has seen several revisions over the years. In 2007, the value was Rs 3,000 per sq.ft, which increased to Rs 7,000 per sq.ft in 2012. However, there was a decrease in 2017 to Rs 4,690 per sq.ft. The value then rose significantly to Rs 7,000 per sq.ft in 2023, followed by a further increase to Rs 7,700 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 157%. The revisions for the years 2002 and 2003 do not have any figures recorded for this street.

Guideline values in Kazhikundram

Kazhikundram village has a total of 68 streets under the Adayar SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 12,700 per sq.ft. The median guideline value for these streets is Rs 6,600 per sq.ft, placing Indira Nagar 5th Lane above this median.

• Indira Nagar 5th Cross Road: Rs 6,600 per sq.ft (2024)
• Indira Nagar 6th Cross Road: Rs 7,700 per sq.ft (2024)
• Indira Nagar 6th Lane: Rs 6,600 per sq.ft (2024)
• Indira Nagar 4th Lane: Rs 6,600 per sq.ft (2024)
• Indira Nagar 7th Cross Road: Rs 6,600 per sq.ft (2024)
• Indira Nagar 7th Lane: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Indira Nagar 5th Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value would be Rs 77,00,000. The stamp duty at 7% would amount to Rs 5,39,000, while the registration fee at 2% would be Rs 1,54,000. Together, the total cost for these fees would be Rs 6,93,000. It is important to note that the 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 5th Lane?

The Sub Registrar Office that covers Indira Nagar 5th Lane is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kazhikundram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in property transactions.

When a property is sold, 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 appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Indira Nagar 5th Lane?

The current guideline value of Indira Nagar 5th Lane is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2007 to Rs 7,700 per sq.ft in 2024, reflecting an overall increase of 157% over the years.

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

For a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000 and the registration fee would be Rs 1,54,000, totaling Rs 6,93,000.

Which Sub Registrar Office handles registrations for this area?

The Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20, handles registrations for Indira Nagar 5th Lane.

What is the median guideline value for streets in Kazhikundram?

The median guideline value for the 68 streets in Kazhikundram is Rs 6,600 per sq.ft, with Indira Nagar 5th Lane being above this median at Rs 7,700 per sq.ft.