Guideline Value for Indira Street (Devi Nagar)

Indira Street (Devi Nagar) guideline value

The current guideline value of Indira Street (Devi Nagar) is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Thirumullaivoyal village under the Ambattur SRO, classified as Residential Class I Type - I.

How the guideline value of Indira Street (Devi Nagar) has changed

The guideline value of Indira Street (Devi Nagar) has seen several revisions over the years. In 2012, the guideline value was Rs 2,200 per sq.ft, which then decreased to Rs 1,474 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,200 per sq.ft in 2023, and further rose to Rs 2,400 per sq.ft in the 2024 revision, marking a 9% increase from the previous year.

Between 2017 and 2023, there was a notable increase of 49%. However, the value dropped by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 9%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are a total of 975 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 5,500 per sq.ft. The median value among these streets is Rs 2,400 per sq.ft, which is equal to the current guideline value of Indira Street (Devi Nagar).

• Indira Nagar 2nd Street 6th Cross Street: Rs 1,500 per sq.ft (2024)
• Indira Nagar 2nd Street 5th Cross Street: Rs 1,500 per sq.ft (2024)
• Indira Nagar 2nd Street 4th Cross Street: Rs 1,500 per sq.ft (2024)
• Indira Nagar 2nd Street 3rd Cross Street: Rs 1,500 per sq.ft (2024)
• Indira Nagar 2nd Street 2nd Cross Street: Rs 1,500 per sq.ft (2024)
• Indira Nagar 2nd Street 1st Cross Street: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Indira Street (Devi Nagar)

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, while the registration fee at 2% would be Rs 48,000, bringing the total to Rs 2,16,000. It is important to 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 Street (Devi Nagar)?

The Sub Registrar Office that covers Indira Street (Devi Nagar) is the Ambattur Sub Registrar Office. The address is Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Thirumullaivoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is conducted transparently and fairly.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions, reflecting the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Indira Street (Devi Nagar)?

The current guideline value of Indira Street (Devi Nagar) is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, then to Rs 2,200 per sq.ft in 2023, and finally to Rs 2,400 per sq.ft in 2024.

What is the land classification of Indira Street (Devi Nagar)?

Indira Street (Devi Nagar) is classified as Residential Class I Type - I.

Where can I find the Sub Registrar Office for Indira Street (Devi Nagar)?

The Sub Registrar Office for Indira Street (Devi Nagar) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for property transactions in Thirumullaivoyal?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property with a guideline value of Rs 24,00,000, the stamp duty at 7% would be Rs 1,68,000.