Guideline Value for Indira Square

Indira Square guideline value

The current guideline value of Indira Square, located in Vadaperumbakkam village under the Redhills SRO, is Rs 1,000 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Indira Square has changed

Over the years, the guideline value of Indira Square has seen several revisions. The 2007 revision set the value at Rs 600 per sq.ft, which increased to Rs 1,000 per sq.ft in the 2012 revision. However, it decreased to Rs 670 per sq.ft in the 2017 revision, before returning to Rs 1,000 per sq.ft in the 2023 revision. The most recent revision in 2024 maintains this value at Rs 1,000 per sq.ft. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, there was a significant increase of 49%. The value remained unchanged from 2023 to 2024. The overall change from the 2007 revision to the current 2024 revision shows an increase of 67%.

Guideline values in Vadaperumbakkam

In Vadaperumbakkam, there are 77 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 1,300 per sq.ft, with a median value of Rs 1,003 per sq.ft. The guideline value for Indira Square is below this median.

• Industrial Garden: Rs 1,006 per sq.ft (2024)
• Jaya Nagar: Rs 1,003 per sq.ft (2024)
• Jaya Nagar Extention - 1: Rs 1,003 per sq.ft (2024)
• Jaya Nagar Extention - 3: Rs 1,000 per sq.ft (2024)
• Jaya Nagar Extn.: Rs 1,003 per sq.ft (2024)
• Jaya Nagar Extn - II: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Indira Square

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total to Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Indira Square?

The Sub Registrar Office that covers Indira Square is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Vadaperumbakkam, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory costs when buying or selling property.

When you register a property, the guideline value is compared to the sale price. The higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Indira Square?

The current guideline value of Indira Square is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, decreased to Rs 670 per sq.ft in 2017, and returned to Rs 1,000 per sq.ft in 2023 and 2024.

What is the land classification for Indira Square?

Indira Square is classified as Residential Special Type - I.

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

The Redhills Sub Registrar Office covers Indira Square and is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000 at 7%.