Guideline Value for Indira Nagar

Indira Nagar guideline value

The current guideline value of Indira Nagar, located in Mannoor village, is Rs 200 per sq.ft, effective from 1 July 2024. This area falls under the Sriperumpudur SRO and is classified as Residential Class III Type - I.

How the guideline value of Indira Nagar has changed

Looking at the historical revisions, the guideline value for Indira Nagar has seen several changes over the years. In 2012, the guideline value was set at Rs 200 per sq.ft, which remained unchanged until the 2017 revision where it decreased to Rs 134 per sq.ft. This was a significant drop of 33%. However, from 2017 to 2023, the value increased by 49% back to Rs 200 per sq.ft. The 2024 revision maintains this value, showing no change from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for Indira Nagar in the register. Therefore, the only revisions available are from 2012, 2017, 2023, and the current 2024 figure.

Guideline values in Mannoor

In Mannoor village, there are 56 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 1,500 per sq.ft. The median value is Rs 250 per sq.ft, positioning Indira Nagar's 2024 figure below this median. Below are the guideline values for other streets in Mannoor:

• Highways Nagar: Rs 300 per sq.ft (2024)
• Jasmine Sri Ganesh Nagar: Rs 500 per sq.ft (2024)
• Jeyalaxmi Nagar: Rs 300 per sq.ft (2024)
• Grand J.V.Nagar: Rs 700 per sq.ft (2024)
• Kamatchi Nagar: Rs 250 per sq.ft (2024)
• Karthik Nagar: Rs 250 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 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty, charged at 7%, would be Rs 14,000, while the registration fee at 2% would be Rs 4,000. Thus, the total cost for these fees would be Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, 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 Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is an essential factor when registering property transactions in Mannoor. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value must be considered alongside the actual sale price. The higher of the two values will be used to calculate the applicable duties and fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Indira Nagar?

The current guideline value of Indira Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft since 2012, with a decrease to Rs 134 per sq.ft in 2017, followed by an increase back to Rs 200 per sq.ft in 2023. The value remains unchanged in the 2024 revision.

What is the land classification of Indira Nagar?

Indira Nagar is classified as Residential Class III Type - I, which indicates its designation for residential development purposes.

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

For a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000 and the registration fee would be Rs 4,000, totaling Rs 18,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Indira Nagar?

The Sub Registrar Office for Indira Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.