Guideline Value for Indira Nagar West

Indira Nagar West guideline value

The current guideline value of Indira Nagar West is Rs 1,900 per sq.ft, effective from 1 July 2024. This area is located in Selaiyur village and falls under the Selaiyur SRO. The land classification for this street is Residential Class I Type - II.

How the guideline value of Indira Nagar West has changed

In the 2012 revision, the guideline value was set at Rs 1,800 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a significant decrease to Rs 1,206 per sq.ft, marking a drop of 33%. The value then increased to Rs 1,800 per sq.ft in the 2023 revision, before rising again to Rs 1,900 per sq.ft in the 2024 revision, reflecting a 6% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a slight increase of 6%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Selaiyur

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

• Indira Nagar P.K.P Sundaram Street: Rs 1,900 per sq.ft (2024)
• Indira Nagar East: Rs 1,900 per sq.ft (2024)
• Indira Nagar: Rs 1,900 per sq.ft (2024)
• IOB Colony: Rs 3,500 per sq.ft (2024)
• IOB Colony 1st Main Road: Rs 3,500 per sq.ft (2024)
• IOB Colony 2nd Main Road: Rs 3,500 per sq.ft (2024)

Stamp duty and registration fee for property in Indira Nagar West

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 be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, making the total Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Indira Nagar West?

The Sub Registrar Office that covers Indira Nagar West 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 details.

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 need to be paid during the registration process. Buyers and sellers should be aware that the guideline value is the minimum value considered for these calculations.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which is critical for both taxation and legal purposes. Therefore, understanding the guideline value is essential for anyone looking to buy or sell property in Selaiyur.

Frequently asked questions

What is the current guideline value of Indira Nagar West?

The current guideline value of Indira Nagar West 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 back to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What is the land classification for Indira Nagar West?

The land classification for Indira Nagar West is Residential Class I Type - II.

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

The Sub Registrar Office for Indira Nagar West is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

How is the stamp duty calculated for properties in Indira Nagar West?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 19,00,000, the stamp duty would be Rs 1,33,000 at a rate of 7%.