Guideline Value for Indira Nagar East

Indira Nagar East guideline value

The current guideline value of Indira Nagar East is Rs 1,900 per sq.ft, effective from 1 July 2024. This area is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class I Type - II.

How the guideline value of Indira Nagar East has changed

The guideline value for Indira Nagar East has undergone several revisions over the years. The figures are as follows: in 2012, the guideline value was Rs 1,800 per sq.ft. This figure remained unchanged until the next revision in 2017, where it decreased to Rs 1,206 per sq.ft. Following this, the value increased significantly to Rs 1,800 per sq.ft in 2023, and then to Rs 1,900 per sq.ft in 2024.

From the 2012 revision to the 2017 revision, the guideline value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The overall change from 2012 to 2024 shows a slight increase of 6%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Selaiyur

In Selaiyur village, there are 478 streets under the Selaiyur SRO, with the 2024 guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median value is Rs 2,200 per sq.ft, placing the guideline value of Indira Nagar East below this median.

• Indira Nagar: Rs 1,900 per sq.ft (2024)
• Indira Nagar P.K.P Sundaram Street: Rs 1,900 per sq.ft (2024)
• Indira Nagar West: Rs 1,900 per sq.ft (2024)
• Indian Bank Colony 1st Street: Rs 1,600 per sq.ft (2024)
• Immanuel Street: Rs 950 per sq.ft (2024)
• IOB Colony: Rs 3,500 per sq.ft (2024)

Stamp duty and registration fee for property in Indira Nagar East

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would amount to Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total to Rs 1,71,000. It is important to note that the 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 East?

The Sub Registrar Office that covers Indira Nagar East is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Selaiyur. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, which helps maintain transparency in real estate dealings. It is essential for buyers and sellers to be informed about the current guideline values to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Indira Nagar East?

The current guideline value of Indira Nagar East is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What is the median guideline value in Selaiyur?

The median guideline value in Selaiyur is Rs 2,200 per sq.ft, while Indira Nagar East's current value is below this median.

What are the stamp duty and registration fees for Indira Nagar East?

The stamp duty for a 1,000 sq.ft plot at the current guideline value would be Rs 1,33,000, and the registration fee would be Rs 38,000, totaling Rs 1,71,000.

Where is the Sub Registrar Office for Indira Nagar East located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.