Guideline Value for Indira Nagar Avenue

Indira Nagar Avenue guideline value

The current guideline value of Indira Nagar Avenue is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village under the Sembiam SRO, classified as Residential Class II Type - I.

How the guideline value of Indira Nagar Avenue has changed

Starting from the 2007 revision, the guideline value was Rs 700 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in the 2012 revision, marking a change of 257%. The value remained unchanged at Rs 2,500 per sq.ft until the 2023 revision, where it was revised to Rs 2,500 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 2,700 per sq.ft, reflecting an increase of 8% from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2017 for Indira Nagar Avenue. Overall, from 2007 to 2024, the guideline value has increased by 286%.

Guideline values in Kolathur

In Kolathur village, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. Indira Nagar Avenue's 2024 guideline value is below this median.

• Indira Nagar Extension: Rs 2,700 per sq.ft (2024)
• Indira Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Indira Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Inner ring Road: Rs 5,500 per sq.ft (2024)
• Jaganathan Nagar: Rs 2,700 per sq.ft (2024)
• Jaganathan Salai / Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Indira Nagar Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, resulting in a total cost of Rs 2,43,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Indira Nagar Avenue?

The Sub Registrar Office that covers Indira Nagar Avenue is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Kolathur. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory costs associated with property transactions. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Indira Nagar Avenue?

The current guideline value of Indira Nagar Avenue is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, marking an overall increase of 286%.

What is the stamp duty for property in Indira Nagar Avenue?

The stamp duty for property in Indira Nagar Avenue is 7% of the guideline value or sale price, whichever is higher. For example, for a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000.

Which office handles property registrations for Indira Nagar Avenue?

The Sembiam Sub Registrar Office handles property registrations for Indira Nagar Avenue, located at 5, Papermills Road, Sembiam, Chennai - 600011.

Are there other streets in Kolathur with similar guideline values?

Yes, other streets in Kolathur have a guideline value of Rs 2,700 per sq.ft in 2024, including Indira Nagar Extension, Indira Nagar 2nd Street, Indira Nagar 1st Street, and Jaganathan Nagar.