Guideline Value for Indira Nagar 6th Street

Indira Nagar 6th Street guideline value

The current guideline value of Indira Nagar 6th 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 6th Street has changed

The guideline value for Indira Nagar 6th Street has seen significant changes over the years. In 2002, the guideline value was Rs 200 per sq.ft, which increased to Rs 225 per sq.ft in 2003, marking a 13% rise. The value then experienced a substantial increase of 1,456% to reach Rs 3,500 per sq.ft in 2012. However, from 2012 to 2017, the value decreased by 33% to Rs 2,345 per sq.ft. The subsequent revision in 2023 saw an increase of 49%, bringing the value to Rs 3,500 per sq.ft, followed by a 10% increase in 2024, resulting in the current value of Rs 3,850 per sq.ft.

It is important to note that the register has no figure for this street in 2007. Overall, from 2002 to 2024, the guideline value has increased by 1,825%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. The guideline value for Indira Nagar 6th Street is below this median.

• Indira Nagar 5th Street: Rs 3,850 per sq.ft (2024)
• Indira Nagar 4th Street: Rs 3,850 per sq.ft (2024)
• Indira Nagar 3rd 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)
• I.Neelavathy Nagar: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Indira Nagar 6th Street

For a 1,000 sq.ft plot at the current rate, the 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, totaling Rs 3,46,500. 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 6th Street?

The Sub Registrar Office covering Indira Nagar 6th 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 information.

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

The guideline value is a crucial factor when buying or selling property in Velachery. It serves as a benchmark for determining the minimum value of a property, which is essential for calculating stamp duty and registration fees during the registration process.

When a property is being sold, the guideline value helps ensure that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers should be aware of the current guideline value to make informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of Indira Nagar 6th Street?

The current guideline value of Indira Nagar 6th 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, reflecting an overall increase of 1,825%.

What is the land classification for Indira Nagar 6th Street?

Indira Nagar 6th Street is classified as Residential Class II Type - III.

What are the stamp duty and registration fees for a property in Indira Nagar 6th Street?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 3,46,500, based on the current guideline value.

Where is the Sub Registrar Office for Indira Nagar 6th Street located?

The Sub Registrar Office for Indira Nagar 6th Street is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.