Guideline Value for Indira gandhi Street

Indira gandhi Street guideline value

The current guideline value of Indira gandhi Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village under the Alandur SRO, classified as Residential Class II Type - II.

How the guideline value of Indira gandhi Street has changed

The guideline value for Indira gandhi Street has undergone several revisions over the years. In 2002, the value was Rs 290 per sq.ft, which increased to Rs 331 per sq.ft in 2003, marking a 14% rise. The value continued to rise significantly, reaching Rs 900 per sq.ft in 2007, an increase of 172%. By 2012, the value was Rs 2,500 per sq.ft, reflecting a substantial increase of 178% from the previous revision. However, it decreased by 33% to Rs 1,675 per sq.ft in 2017. The value then increased to Rs 2,500 per sq.ft in 2023, followed by a further increase to Rs 2,800 per sq.ft in 2024, which is a 12% rise.

Overall, from 2002 to 2024, the guideline value has increased by 866%. There are no figures available for the revisions in the years not mentioned in this summary.

Guideline values in Adambakkam

Adambakkam has a total of 569 streets under the Alandur SRO, with guideline values ranging from Rs 2,800 to Rs 11,000 per sq.ft as per the 2024 revision. The median guideline value in this area is Rs 3,900 per sq.ft, placing Indira gandhi Street's 2024 figure below that median.

• Indira Nagar 1st Cross Street: Rs 2,800 per sq.ft (2024)
• Indira Nagar 1st Main Road: Rs 2,800 per sq.ft (2024)
• Indira Nagar 2nd Cross Street: Rs 2,800 per sq.ft (2024)
• Indira Nagar 2nd Main Road: Rs 2,800 per sq.ft (2024)
• Indira Nagar 3rd Cross Street: Rs 2,800 per sq.ft (2024)
• Indira Nagar 3rd Main road: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Indira gandhi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total to Rs 2,52,000. 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 more detailed calculations.

Which Sub Registrar Office covers Indira gandhi Street?

The Sub Registrar Office that covers Indira gandhi Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions within Adambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. When a buyer and seller agree on a sale price, the higher of the sale price or the guideline value is used to calculate the stamp duty and registration fees.

This ensures that the government receives the appropriate revenue from property transactions. Buyers should be aware of the guideline value to ensure compliance with registration requirements and to understand the financial implications of their property purchase.

Frequently asked questions

What is the current guideline value of Indira gandhi Street?

The current guideline value of Indira gandhi Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 290 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 866% over this period.

What is the land classification for Indira gandhi Street?

Indira gandhi Street is classified as Residential Class II Type - II, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Indira gandhi Street?

The Sub Registrar Office for Indira gandhi Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for properties in Indira gandhi Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 28,00,000, the stamp duty at 7% would be Rs 1,96,000, along with a registration fee of Rs 56,000.