Guideline Value for Indira Nagar 7th Lane

Indira Nagar 7th Lane guideline value

The current guideline value of Indira Nagar 7th Lane, located in Kazhikundram village under the Adayar SRO, is Rs 6,600 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Indira Nagar 7th Lane has changed

The guideline value for Indira Nagar 7th Lane has undergone several revisions over the years. In 2007, the guideline value was Rs 2,200 per sq.ft, which increased to Rs 6,000 per sq.ft in 2012, marking a significant rise of 173%. However, the value dropped to Rs 4,020 per sq.ft in 2017, a decrease of 33%. The 2023 revision set the value at Rs 6,000 per sq.ft, and the latest revision in 2024 saw it rise to Rs 6,600 per sq.ft, reflecting a 10% increase.

Overall, from 2007 to 2024, the guideline value has increased by 200%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kazhikundram

Kazhikundram village has 68 streets under the Adayar SRO, with guideline values ranging from Rs 2,800 to Rs 12,700 per sq.ft. The median guideline value is Rs 6,600 per sq.ft, which is the same as the current value for Indira Nagar 7th Lane.

• Indira Nagar 7th Cross Road: Rs 6,600 per sq.ft (2024)
• Indira Nagar 8th Cross Road: Rs 7,700 per sq.ft (2024)
• Indira Nagar 8th Lane: Rs 6,600 per sq.ft (2024)
• Indira Nagar 6th Lane: Rs 6,600 per sq.ft (2024)
• Indira Nagar 9th Cross Road: Rs 7,700 per sq.ft (2024)
• Indira Nagar 9th Lane: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Indira Nagar 7th Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, while the registration fee at 2% would be Rs 1,32,000. Together, the total costs would be Rs 5,94,000. Please note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Indira Nagar 7th Lane?

The Sub Registrar Office that covers Indira Nagar 7th Lane is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is an important factor when registering property transactions in Kazhikundram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold or purchased, the guideline value is compared to the sale price. The higher of the two figures is used to calculate the applicable stamp duty and registration fees, ensuring that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Indira Nagar 7th Lane?

The current guideline value of Indira Nagar 7th Lane is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 200% over the years.

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

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which office handles property registrations for Indira Nagar 7th Lane?

The Adayar Sub Registrar Office handles property registrations for Indira Nagar 7th Lane, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

What is the median guideline value for streets in Kazhikundram?

The median guideline value for streets in Kazhikundram is Rs 6,600 per sq.ft, which is the same as the current value for Indira Nagar 7th Lane.