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 property is located in Somangalam_B village under the Sriperumpudur SRO, classified as Residential Class III Type - I.

How the guideline value of Indira Nagar Part II has changed

In the 2017 revision, the guideline value was set at Rs 134 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 200 per sq.ft. The 2024 revision again maintained the guideline value at Rs 200 per sq.ft, marking no change from the previous year.

Between the 2017 and 2023 revisions, there was a significant increase of 49%. Overall, from 2017 to 2024, the guideline value has increased by 49% as well. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Somangalam_B

In Somangalam_B, there are 79 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 2,500 per sq.ft, with a median value of Rs 250 per sq.ft. Indira Nagar Part II's 2024 guideline value 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 would be Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total charges to 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 calculate your own fees using the stamp duty and registration fee calculator.

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_B

The guideline value is a critical factor in property transactions as it determines the amount of stamp duty and registration fees payable at the time of registration. Buyers and sellers must refer to the current guideline value to ensure compliance with local regulations.

When registering a property, the guideline value serves as a benchmark for valuation, ensuring that the transaction is recorded at a fair value as per government standards. This helps maintain transparency and accountability in real estate transactions.

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 much has the guideline value changed since 2017?

Since 2017, the guideline value has increased by 49%, from Rs 134 per sq.ft in 2017 to Rs 200 per sq.ft in the 2024 revision.

What are the other streets in Somangalam_B with their guideline values?

Other streets in Somangalam_B include Indira Nagar at Rs 400 per sq.ft, Hi-tech city Extension at Rs 200 per sq.ft, Hanuman Garden at Rs 200 per sq.ft, Jayabalan Nagar at Rs 400 per sq.ft, Jayaram Nagar at Rs 250 per sq.ft, and Jeyam Nagar at Rs 400 per sq.ft.

What is the registration fee for a property in Indira Nagar Part II?

The registration fee is calculated at 2% of the guideline value. For a property valued at Rs 2,00,000, the registration fee would be Rs 4,000.

Where can I find my Sub Registrar Office?

You can find your Sub Registrar Office by visiting the Sriperumpudur Sub Registrar Office located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. For more details, you can use the find your SRO link.