Guideline Value for Indira Nagar

Indira Nagar guideline value

The current guideline value of Indira Nagar, located in Somangalam_B village, is Rs 400 per sq.ft, as per the 2024 revision effective from 1 July 2024. This area falls under the Sriperumpudur SRO and is classified as Residential Special Type - I.

How the guideline value of Indira Nagar has changed

Looking at the revisions, the guideline value for Indira Nagar has remained consistent at Rs 400 per sq.ft for both the 2023 and 2024 revisions. The previous revision in 2017 set the value at Rs 268 per sq.ft, marking a significant increase of 49% to the current rate. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, the guideline value saw a rise of 49%, leading to the current value. Overall, from 2017 to 2024, the increase is also 49%, indicating stability in the recent revisions.

Guideline values in Somangalam_B

In Somangalam_B, there are 79 streets under the Sriperumpudur SRO that have a 2024 guideline value ranging from Rs 150 to Rs 2,500 per sq.ft, with a median value of Rs 250 per sq.ft. Indira Nagar's current guideline value is above this median.

• Indira Nagar Part II: Rs 200 per sq.ft (2024)
• Hi-tech city Extension: Rs 200 per sq.ft (2024)
• Hanuman Garden: Rs 200 per sq.ft (2024)
• Jayabalan Nagar: Rs 400 per sq.ft (2024)
• Jayaram Nagar: Rs 250 per sq.ft (2024)
• Green Garden: 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 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total to Rs 36,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

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 information.

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

The guideline value plays a crucial role during the registration of property transactions in Somangalam_B. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation of the property.

When buying or selling property, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties and fees. This helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Indira Nagar?

The current guideline value of Indira Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 400 per sq.ft from 2023 to 2024, and it increased from Rs 268 per sq.ft in 2017, marking a 49% rise overall since 2017.

What is the land classification for Indira Nagar?

Indira Nagar is classified as Residential Special Type - I under the guideline value register.

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

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

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

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 4,00,000 would incur a stamp duty of Rs 28,000 at 7% and a registration fee of Rs 8,000 at 2%, totaling Rs 36,000.