Guideline Value for Indira Nagar Part II

Indira Nagar Part II guideline value

The current guideline value of Indira Nagar Part II is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Somangalam village under the Sriperumpudur SRO, classified as Residential Class III Type - I.

How the guideline value of Indira Nagar Part II has changed

Over the years, the guideline value for Indira Nagar Part II has seen several revisions. The earliest recorded value was Rs 50 per sq.ft in 2007, which increased significantly to Rs 200 per sq.ft in 2012. However, it then dropped to Rs 134 per sq.ft in 2017, marking a decrease of 33%. Following this, the guideline value remained stable at Rs 200 per sq.ft in both 2023 and the upcoming 2024 revision, showing no change from the previous year.

In summary, from 2017 to 2023, there was a notable increase of 49%, while the overall change from 2007 to 2024 reflects a substantial increase of 300%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Somangalam

In Somangalam, there are 86 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 800 per sq.ft, with a median of Rs 350 per sq.ft. The guideline value for Indira Nagar Part II is below this median.

• Indira Nagar: Rs 400 per sq.ft (2024)
• Hi-tech city Extension: Rs 200 per sq.ft (2024)
• Hanuman Garden: Rs 200 per sq.ft (2024)
• Jayabalan Nagar: Rs 400 per sq.ft (2024)
• Jayaram Nagar: Rs 250 per sq.ft (2024)
• Jeyam Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Indira Nagar Part II

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, making the total fees Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Indira Nagar Part II?

The Sub Registrar Office that covers Indira Nagar Part II is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Somangalam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When buying or selling property, the guideline value is used to ensure that the transaction is recorded at a value that reflects the official rates set by the government. This helps maintain transparency and compliance in property dealings.

Frequently asked questions

What is the current guideline value of Indira Nagar Part II?

The current guideline value of Indira Nagar Part II is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 50 per sq.ft in 2007 to Rs 200 per sq.ft in 2012, then decreased to Rs 134 per sq.ft in 2017, and has remained at Rs 200 per sq.ft in both 2023 and 2024.

What is the land classification for Indira Nagar Part II?

Indira Nagar Part II is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for Indira Nagar Part II?

The Sub Registrar Office for Indira Nagar Part II is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 200 per sq.ft, the total fees would amount to Rs 18,000.