Guideline Value for Indira Nagar

Indira Nagar guideline value

The current guideline value of Indira Nagar, located in Selaiyur village under the Selaiyur SRO, is Rs 1,900 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - II.

How the guideline value of Indira Nagar has changed

The guideline value of Indira Nagar has undergone several revisions over the years. In 2007, the guideline value was Rs 1,130 per sq.ft, which increased to Rs 1,800 per sq.ft in 2012. However, this figure decreased by 33% to Rs 1,206 per sq.ft in 2017. The value then saw a significant rise of 49%, reaching Rs 1,800 per sq.ft in 2023, before increasing again by 6% to the current value of Rs 1,900 per sq.ft effective from July 2024. The register has no figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 68%. The revisions reflect the changing landscape and valuation of properties in the area.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, placing Indira Nagar's 2024 figure below this median.

• Indira Nagar East: Rs 1,900 per sq.ft (2024)
• Indian Bank Colony 1st Street: Rs 1,600 per sq.ft (2024)
• Indira Nagar P.K.P Sundaram Street: Rs 1,900 per sq.ft (2024)
• Indira Nagar West: Rs 1,900 per sq.ft (2024)
• Immanuel Street: Rs 950 per sq.ft (2024)
• I.A.F Road Sakthi Avenue: Rs 4,400 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 1,900 per sq.ft, the total guideline value amounts to 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, bringing the total fees together to Rs 1,71,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Indira Nagar?

The Sub Registrar Office covering Indira Nagar 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 information.

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

The guideline value serves as a benchmark for property transactions in Selaiyur. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that must be paid at the time of registration.

This value ensures that the transaction is recorded accurately and reflects the official valuation of the property. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies 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 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 1,130 per sq.ft in 2007 to Rs 1,900 per sq.ft in 2024, marking an overall increase of 68% over the years.

What is the land classification of Indira Nagar?

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

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

For a property valued at Rs 19,00,000, the stamp duty is Rs 1,33,000, and the registration fee is Rs 38,000, totaling Rs 1,71,000.

Where is the Sub Registrar Office for Indira Nagar located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.