Guideline Value for Indra Gandhi Kuppam

Indra Gandhi Kuppam guideline value

The current guideline value of Indra Gandhi Kuppam is Rs 1,400 per sq.ft, effective from 1 July 2024. This street is located in Ernavur village, under the Thiruvottiyur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Indra Gandhi Kuppam has changed

Since the 2007 revision, the guideline value for Indra Gandhi Kuppam has seen significant changes. The 2007 revision set the value at Rs 200 per sq.ft, which increased dramatically to Rs 1,300 per sq.ft in 2012, marking a rise of 550%. However, it then decreased to Rs 871 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 1,300 per sq.ft in 2023, and most recently, it has increased to Rs 1,400 per sq.ft in 2024, reflecting an 8% increase.

For the years 2002 and 2003, the register has no figure for this street. Overall, from 2007 to 2024, the guideline value has increased by 600%, showcasing the fluctuations over the years.

Guideline values in Ernavur

In Ernavur, there are 82 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 7,300 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Indra Gandhi Kuppam is below this median.

• Jaihith Nagar: Rs 1,800 per sq.ft (2024)
• Jayalailtha nagar: Rs 1,600 per sq.ft (2024)
• Jayanthi Nagar: Rs 1,600 per sq.ft (2024)
• Jothi Nagar/Main Roads/Cross Streets: Rs 1,800 per sq.ft (2024)
• Girija Nagar Extension: Rs 1,400 per sq.ft (2024)
• Girija Nagar: Rs 1,400 per sq.ft (2024)

Stamp duty and registration fee for property in Indra Gandhi Kuppam

For a 1,000 sq.ft plot at the current rate of Rs 1,400 per sq.ft, the guideline value would be Rs 14,00,000. The stamp duty at 7% would amount to Rs 98,000, and the registration fee at 2% would be Rs 28,000, totaling Rs 1,26,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Indra Gandhi Kuppam?

The Indra Gandhi Kuppam area falls under the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Ernavur. It serves as the basis for calculating stamp duty and registration fees, which are mandatory during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property transaction occurs, the guideline value is used to determine the financial obligations related to the sale. This ensures that the fees collected are aligned with the established valuation for the area, providing a standardized approach to property transactions.

Frequently asked questions

What is the current guideline value for Indra Gandhi Kuppam?

The current guideline value for Indra Gandhi Kuppam is Rs 1,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 200 per sq.ft in 2007 to Rs 1,400 per sq.ft in 2024, with various fluctuations in between.

What are the stamp duty rates for properties in Indra Gandhi Kuppam?

The stamp duty for properties in Indra Gandhi Kuppam is charged at 7% of the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office should I visit for property registration?

The Thiruvottiyur Sub Registrar Office covers Indra Gandhi Kuppam, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

Where can I find more information about guideline values in Ernavur?

For more information about guideline values in Ernavur, you can refer to the Registration Department's guideline value register available at TNReginet.