Guideline Value for Indirani Nagar

Indirani Nagar guideline value

The current guideline value of Indirani Nagar is Rs 990 per sq.ft, effective from 1 July 2024. This area is located in Mannivakkam village and falls under the Gooduvancheri SRO, classified as Residential Special Type - II.

How the guideline value of Indirani Nagar has changed

Over the years, the guideline value of Indirani Nagar has experienced several revisions. The earliest recorded figure is from 2007, which was Rs 200 per sq.ft. This increased significantly to Rs 900 per sq.ft in 2012, marking a rise of 350%. However, the value then dropped to Rs 603 per sq.ft in 2017, a decrease of 33%. The most recent revisions saw the value rise to Rs 900 per sq.ft in 2023 and then to Rs 990 per sq.ft in 2024, reflecting a 10% increase.

Notably, there are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 395%.

Guideline values in Mannivakkam

In Mannivakkam, there are 118 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 4,300 per sq.ft, with a median value of Rs 1,215 per sq.ft. The guideline value of Indirani Nagar is below this median.

• Indrani Ramachandran Avenue: Rs 770 per sq.ft (2024)
• Jaya Nagar Extension M.G.R. Street: Rs 2,200 per sq.ft (2024)
• Jaya Nagar Extn M.G.R. Street: Rs 2,200 per sq.ft (2024)
• Jayaprakash Nagar: Rs 1,320 per sq.ft (2024)
• Jayaram Avenue: Rs 990 per sq.ft (2024)
• Jeyam Avenue: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Indirani Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value is Rs 9,90,000. The stamp duty at 7% amounts to Rs 69,300, and the registration fee at 2% is Rs 19,800, bringing the total fees to Rs 89,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Indirani Nagar?

The Sub Registrar Office that covers Indirani Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Mannivakkam. This value is used to calculate the stamp duty and registration fees, which are mandatory for property transactions. Buyers should be aware that the guideline value is often considered the baseline for these calculations.

When a property is sold, the transaction must be registered with the local Sub Registrar Office, and the guideline value will be referenced to ensure that the correct fees are applied. It is essential for both buyers and sellers to understand this process to avoid any legal complications.

Frequently asked questions

What is the current guideline value of Indirani Nagar?

The current guideline value of Indirani Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 200 per sq.ft in 2007 to Rs 990 per sq.ft in 2024, reflecting an overall increase of 395% over the years.

What are the other streets in Mannivakkam with their guideline values?

Other streets in Mannivakkam include Indrani Ramachandran Avenue at Rs 770 per sq.ft, Jaya Nagar Extension M.G.R. Street and Jaya Nagar Extn M.G.R. Street both at Rs 2,200 per sq.ft, and Jayaprakash Nagar at Rs 1,320 per sq.ft.

What fees are associated with property transactions in Indirani Nagar?

For a property in Indirani Nagar, the stamp duty is 7% and the registration fee is 2% of the guideline value. For example, a 1,000 sq.ft plot would incur a total fee of Rs 89,100 based on the current guideline value.

Where can I find the Sub Registrar Office for Indirani Nagar?

The Sub Registrar Office for Indirani Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.