Guideline Value for Indira Nagar Extension

Indira Nagar Extension guideline value

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

How the guideline value of Indira Nagar Extension has changed

Over the years, the guideline value for Indira Nagar Extension has seen significant changes. The earliest recorded revision was in 2003, with a guideline value of Rs 255 per sq.ft. This figure increased to Rs 700 per sq.ft in 2007, marking a substantial rise of 175%. The value remained unchanged at Rs 2,500 per sq.ft from 2012 until 2023. In 2023, it was revised to Rs 2,500 per sq.ft, and then it increased to Rs 2,700 per sq.ft in 2024, reflecting an 8% change.

Overall, from 2003 to 2024, the guideline value has increased by 959%. Notably, there are no figures available for the years 2002 and 2017 for this street.

Guideline values in Kolathur

In Kolathur, 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. The median value for these streets is Rs 3,300 per sq.ft, placing Indira Nagar Extension's 2024 figure below that median.

• Indira Nagar Avenue: 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 Extension

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, while the registration fee at 2% would be Rs 54,000, bringing the total cost for these fees to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Indira Nagar Extension?

The Sub Registrar Office that covers Indira Nagar Extension is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Kolathur, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations and to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Indira Nagar Extension?

The current guideline value of Indira Nagar Extension 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 255 per sq.ft in 2003 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 959% over the years.

What is the stamp duty rate for property in Indira Nagar Extension?

The stamp duty rate for property transactions in Indira Nagar Extension is 7% of the guideline value or sale price, whichever is higher.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

What are the other streets in Kolathur with similar guideline values?

Other streets in Kolathur with similar guideline values include Indira Nagar Avenue, Indira Nagar 1st Street, and Jaganathan Nagar, all with a guideline value of Rs 2,700 per sq.ft in 2024.