Guideline Value for Indira Nagar

Indira Nagar guideline value

The current guideline value of Indira Nagar, located in Naduvakkarai village under the AnnaNagar SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Indira Nagar has changed

Over the years, the guideline value of Indira Nagar has seen significant changes. In 2007, the guideline value was Rs 1,300 per sq.ft, which increased to Rs 3,000 per sq.ft in 2012. However, from 2012 to 2017, there was a decrease to Rs 2,010 per sq.ft. The value then rose again to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft from the 2024 revision. The changes between these revisions include a 131% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024.

It is important to note that the register does not contain figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 154%.

Guideline values in Naduvakkarai

Naduvakkarai village has a total of 148 streets under the AnnaNagar SRO, with 2024 guideline values ranging from Rs 3,300 to Rs 15,900 per sq.ft. The median guideline value in the village is Rs 11,500 per sq.ft, placing Indira Nagar's 2024 figure below that median.

• George Enclave: Rs 11,000 per sq.ft (2024)
• Ellappa Street: Rs 5,500 per sq.ft (2024)
• Dr. Radhakrishnan Nagar: Rs 5,400 per sq.ft (2024)
• Brevery Road: Rs 11,000 per sq.ft (2024)
• L-5 to L 12 (LIG Flats) M11 to M14 (MIG Flats) Shanthi Colony, 2540, 3084, 3085, 3115, 3119, West Chennai 40: Rs 14,800 per sq.ft (2024)
• Block AD 4th Street -25’: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in Indira Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. 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 further calculations.

Which Sub Registrar Office covers Indira Nagar?

The Sub Registrar Office covering Indira Nagar is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your specific SRO, visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Naduvakkarai. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is recorded accurately in the government records.

When a buyer and seller agree on a sale price, the higher amount between the sale price and the guideline value is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Indira Nagar?

The current guideline value of Indira Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,300 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting a 154% increase overall.

What are the guideline values for other streets in Naduvakkarai?

Other streets in Naduvakkarai have varying guideline values, with rates ranging from Rs 3,300 to Rs 15,900 per sq.ft in 2024. The median value is Rs 11,500 per sq.ft.

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

For a 1,000 sq.ft property, the total guideline value is Rs 33,00,000. The stamp duty is Rs 2,31,000, and the registration fee is Rs 66,000, totaling Rs 2,97,000.

Where is the Sub Registrar Office for Indira Nagar located?

The Sub Registrar Office for Indira Nagar is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.