Guideline Value for Indira Nagar

Indira Nagar guideline value

The current guideline value of Indira Nagar, located in Kovur village under the Kunrathur SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Indira Nagar has changed

The guideline value of Indira Nagar has seen several revisions over the years. Starting from the 2003 revision, the guideline value was Rs 125 per sq.ft. In 2007, it increased significantly to Rs 250 per sq.ft, marking a 100% rise. The value then rose to Rs 1,500 per sq.ft in 2012, reflecting a substantial increase of 500%. However, in 2017, the value dropped to Rs 1,005 per sq.ft, a decrease of 33%. The subsequent revision in 2023 brought the value back up to Rs 1,500 per sq.ft, and the latest revision in 2024 set it at Rs 1,650 per sq.ft, showing a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1,220%. The register has no figure for the year 2002 for this street.

Guideline values in Kovur

In Kovur, there are 91 streets under the Kunrathur SRO, with guideline values ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value is Rs 1,650 per sq.ft, which aligns with the current guideline value of Indira Nagar.

• Guru Mahendra Nagar: Rs 2,800 per sq.ft (2024)
• Gangadhran street: Rs 2,300 per sq.ft (2024)
• Kalyani Avenue: Rs 1,430 per sq.ft (2024)
• Kalyani Nagar: Rs 2,630 per sq.ft (2024)
• Eswaran Nagar Annex: Rs 1,320 per sq.ft (2024)
• Eswaran Nagar: Rs 1,320 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 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the stamp duty is charged on the higher of the guideline value or the sale price.

You can also 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 Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kovur. It determines the amount of stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value serves as a benchmark to ensure that the transaction is recorded accurately. This helps in maintaining transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of Indira Nagar?

The current guideline value of Indira Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value of Indira Nagar changed over the years?

The guideline value has changed from Rs 125 per sq.ft in 2003 to Rs 1,650 per sq.ft in 2024, showing an overall increase of 1,220% over the years.

What is the registration fee for property in Indira Nagar?

The registration fee for property in Indira Nagar is calculated at 2% of the guideline value or sale price, whichever is higher.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

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

The stamp duty for properties in Indira Nagar is charged at 7% of the guideline value or the sale price, whichever is higher.