Guideline Value for Indira street

Indira street guideline value

The current guideline value of Indira street in Gowrivakkam village is Rs 860 per sq.ft, effective from 1 July 2024. This street falls under the Selaiyur SRO and is classified as Residential Class III Type - II.

How the guideline value of Indira street has changed

Over the years, the guideline value of Indira street has seen several revisions. The earliest recorded revision is from 2007, where the guideline value was Rs 300 per sq.ft. This figure increased to Rs 600 per sq.ft in 2012, marking a 100% rise. However, it then decreased to Rs 402 per sq.ft in 2017, a drop of 33%. The value then rose again to Rs 600 per sq.ft in 2023, and finally, it reached Rs 860 per sq.ft in the 2024 revision, representing a 43% increase from the previous year.

There are no recorded figures for Indira street in the revisions of 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 187%.

Guideline values in Gowrivakkam

In Gowrivakkam, there are 130 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 840 to Rs 3,750 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, indicating that Indira street's 2024 figure is below this median.

• Guruswamy Nagar: Rs 2,700 per sq.ft (2024)
• Gurusamy Nagar Pirathana Salai& Kaveri Street: Rs 2,650 per sq.ft (2024)
• Gurusamy Nagar Pirathana Salai: Rs 2,650 per sq.ft (2024)
• Gurusamy Nagar Main Road: Rs 2,700 per sq.ft (2024)
• Gurusamy Nagar Extn-Vaigai Street: Rs 2,650 per sq.ft (2024)
• Gurusamy Nagar Extn Sivan Koil Street: Rs 2,650 per sq.ft (2024)

Stamp duty and registration fee for property in Indira street

For a 1,000 sq.ft plot at the current guideline value of Rs 860 per sq.ft, the total guideline value would be Rs 8,60,000. The stamp duty at 7% would amount to Rs 60,200, and the registration fee at 2% would be Rs 17,200, bringing the total fees to Rs 77,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Indira street?

The Sub Registrar Office that covers Indira street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Gowrivakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value rather than fluctuating market prices.

When a property transaction occurs, the guideline value is referenced to determine the applicable fees. Buyers and sellers must be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Indira street?

The current guideline value of Indira street is Rs 860 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 860 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for Indira street?

Indira street is classified as Residential Class III Type - II.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for property in Indira street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For a property valued at Rs 8,60,000, the stamp duty would be Rs 60,200 at the current rate of 7%.