Guideline Value for Indira Nagar

Indira Nagar guideline value

The current guideline value of Indira Nagar, located in Konnur village under the Konnur SRO, is Rs 5,500 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Indira Nagar has changed

The guideline value for Indira Nagar has seen several revisions over the years. In 2002, the value was Rs 170 per sq.ft, which increased to Rs 185 per sq.ft in 2003. Following this, there was a significant rise to Rs 700 per sq.ft in 2007, marking an increase of 278%. The value then jumped dramatically to Rs 5,000 per sq.ft in 2012, reflecting a 614% increase. However, it decreased to Rs 3,350 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 5,000 per sq.ft in 2023, and finally, it reached Rs 5,500 per sq.ft in the 2024 revision, representing a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 3135%. There are no figures available for any other revisions for this street.

Guideline values in Konnur

In Konnur village, there are 249 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 7,100 per sq.ft. The median value for these streets is Rs 3,800 per sq.ft, placing Indira Nagar's 2024 figure above this median.

• Indira Nagar / Street: Rs 5,500 per sq.ft (2024)
• Janakiram Reddy Colony & Street: Rs 3,800 per sq.ft (2024)
• G.K.M. Colony 44th Street: Rs 5,500 per sq.ft (2024)
• G.K.M.Colony 43th Street Thillaiyadi Valliammai Street: Rs 6,000 per sq.ft (2024)
• G.K.M. Colony 42nd Street Jagageevan Ram Street: Rs 5,500 per sq.ft (2024)
• G.K.M. Colony 41st Street Sir. C.V. Raman Street: Rs 5,500 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 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, leading to a total cost of Rs 4,95,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Indira Nagar?

The Sub Registrar Office that covers Indira Nagar is the Konnur Sub Registrar Office, located at 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 Konnur

The guideline value is a crucial factor in the registration process when buying or selling property in Konnur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property transactions. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Indira Nagar?

The current guideline value of Indira Nagar is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 170 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, showing a significant increase over the years.

What is the land classification for Indira Nagar?

Indira Nagar is classified as Residential Class I Type - I, indicating its primary use for residential purposes.

Where can I find the Konnur Sub Registrar Office?

The Konnur Sub Registrar Office is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is the stamp duty calculated for property in Indira Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 55,00,000 would incur a stamp duty of Rs 3,85,000 at 7%.