Guideline Value for Indiraji Street

Indiraji Street guideline value

The current guideline value of Indiraji Street is Rs 806 per sq.ft. This street is located in Kovilpathagai village and falls under the Ambattur SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Indiraji Street has changed

In the 2012 revision, the guideline value was set at Rs 600 per sq.ft. This figure increased to Rs 402 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value rose significantly by 100%, reaching Rs 806 per sq.ft. The 2023 revision maintained the same value of Rs 806 per sq.ft, which has been carried into the 2024 revision effective from 1 July 2024.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 34%.

Guideline values in Kovilpathagai

Kovilpathagai village has 278 streets under the Ambattur SRO, with guideline values ranging from Rs 803 to Rs 2,900 per sq.ft. The median guideline value in this area is Rs 870 per sq.ft, placing Indiraji Street's 2024 figure below that median.

• Indra Nagar 2nd Street: Rs 807 per sq.ft (2024)
• Indrani Street: Rs 806 per sq.ft (2024)
• Indra Street: Rs 806 per sq.ft (2024)
• I.A.F. Road: Rs 805 per sq.ft (2024)
• Hemalakshmi Street (Ashok Nagar): Rs 806 per sq.ft (2024)
• Hemalakshmi Nagar: Rs 803 per sq.ft (2024)

Stamp duty and registration fee for property in Indiraji Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 8,06,000. The stamp duty at 7% amounts to Rs 56,420, while the registration fee at 2% is Rs 16,120. Together, the total cost for these fees is Rs 72,540. 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 Indiraji Street?

The Sub Registrar Office that covers Indiraji Street is the Ambattur Sub Registrar Office, located at 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 Kovilpathagai

The guideline value is crucial during property transactions as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Indiraji Street?

The current guideline value of Indiraji Street is Rs 806 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes: it was Rs 600 per sq.ft in 2012, decreased to Rs 402 per sq.ft in 2017, and then rose to Rs 806 per sq.ft in both 2023 and 2024.

What is the land classification for Indiraji Street?

Indiraji Street is classified as Residential Class III Type - I, which indicates its zoning for residential use.

What are the stamp duty and registration fees for a property in Indiraji Street?

For a property valued at Rs 8,06,000, the stamp duty is Rs 56,420 and the registration fee is Rs 16,120, totaling Rs 72,540.

Which office handles registrations for Indiraji Street?

The Ambattur Sub Registrar Office handles registrations for Indiraji Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.