Guideline Value for Indira Nagar

Indira Nagar guideline value

The current guideline value of Indira Nagar, located in Irumpuliyur village under the Tambaram Joint 1 SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - III.

How the guideline value of Indira Nagar has changed

The guideline value for Indira Nagar has undergone several revisions over the years. In 2007, the value was Rs 500 per sq.ft, which increased to Rs 1,000 per sq.ft in 2012. This was followed by a decrease to Rs 670 per sq.ft in 2017. However, from 2017 to 2023, the value saw a significant increase of 49%, reaching Rs 1,000 per sq.ft in 2023. The most recent revision in 2024 has set the guideline value at Rs 1,100 per sq.ft, marking a 10% increase from the previous year.

It is important to note that 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 120%.

Guideline values in Irumpuliyur

In Irumpuliyur, there are 218 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Indira Nagar is below this median.

• Irumbuiur North Street: Rs 1,650 per sq.ft (2024)
• Jayarama Nagar: Rs 1,100 per sq.ft (2024)
• Jebastiyapuram Anthoniyar Street: Rs 2,200 per sq.ft (2024)
• Jerusalam NagarExt: Rs 2,200 per sq.ft (2024)
• Jerusalem Nagar: Rs 2,530 per sq.ft (2024)
• Jerusalem Nagar 4th Street: Rs 2,200 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 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total cost for these fees to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or 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 that covers Indira Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Irumpuliyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can affect the total 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 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting a total increase of 120% over the years.

What is the land classification of Indira Nagar?

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

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

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 11,00,000, the total fees would amount to Rs 99,000.

Which office handles registrations for Indira Nagar?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Indira Nagar, located at No.26, Mes Road, East Tambaram, Chennai-600059.