Guideline Value for Indira Nagar

Indira Nagar guideline value

The current guideline value of Indira Nagar is Rs 880 per sq.ft, effective from 1 July 2024. This locality falls under 44.Ayanambakkam village and is classified as Residential Class IV Type - I. The Konnur SRO manages the guideline values for this area.

How the guideline value of Indira Nagar has changed

The guideline value for Indira Nagar has undergone several revisions over the years. The 2017 revision set the value at Rs 536 per sq.ft, which increased to Rs 800 per sq.ft in the 2023 revision. The most recent 2024 revision has raised the guideline value to Rs 880 per sq.ft, marking a 10% increase from the previous year. Notably, the overall increase from 2017 to 2024 is 64%.

There are no figures available for the years 2002, 2003, 2007, and 2012 for this street. The 2023 revision saw a significant rise of 49% from the 2017 figure, indicating a substantial change in the guideline value over the years.

Guideline values in 44.Ayanambakkam

In 44.Ayanambakkam, there are 157 streets under the Konnur SRO, with guideline values for 2024 ranging from Rs 801 to Rs 9,702 per sq.ft. The median value for these streets is Rs 1,300 per sq.ft, placing Indira Nagar's 2024 figure below the median.

• Indira gandhi street: Rs 880 per sq.ft (2024)
• Indira Street: Rs 880 per sq.ft (2024)
• Hi-Tech Nagar: Rs 9,702 per sq.ft (2024)
• Janasakthi Nagar: Rs 802 per sq.ft (2024)
• Glenmore Garden: Rs 7,100 per sq.ft (2024)
• Geesan Ayanampakam Housing Colony: Rs 3,100 per sq.ft (2024)

Stamp duty and registration fee for property in Indira Nagar

For a 1,000 sq.ft plot at the current rate of Rs 880 per sq.ft, the guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, totaling Rs 79,200. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Indira Nagar?

The Sub Registrar Office that covers Indira Nagar is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

How the guideline value is used when you buy or sell in 44.Ayanambakkam

The guideline value is a crucial factor during the registration of properties in 44.Ayanambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When buying or selling property, the guideline value influences the stamp duty and registration fees payable. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price, which can significantly affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Indira Nagar?

The current guideline value of Indira Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 536 per sq.ft to Rs 880 per sq.ft in 2024, representing an overall increase of 64%.

What is the land classification for Indira Nagar?

Indira Nagar is classified as Residential Class IV Type - I, indicating its suitability for residential development.

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

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600, totaling Rs 79,200.

Which office manages the guideline values for Indira Nagar?

The guideline values for Indira Nagar are managed by the Konnur Sub Registrar Office, located in Ambattur, Chennai.