Guideline Value for Indra Gandhi Nagar

Indra Gandhi Nagar guideline value

The current guideline value of Indra Gandhi Nagar is Rs 700 per sq.ft, effective from 1 July 2024. This street is located in Kayirambedu village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Indra Gandhi Nagar has changed

Over the years, the guideline value of Indra Gandhi Nagar has experienced several revisions. The earliest recorded figure is from 2007, when the value was Rs 210 per sq.ft. This increased significantly to Rs 700 per sq.ft in 2012, marking a substantial rise of 233%. However, from 2012 to 2017, the value decreased to Rs 469 per sq.ft, reflecting a decline of 33%. The value then rose again to Rs 700 per sq.ft in 2023, remaining unchanged in the subsequent 2024 revision.

From 2017 to 2023, there was a notable increase of 49%, bringing the value back to Rs 700 per sq.ft. Overall, from 2007 to 2024, the guideline value has increased by 233%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kayirambedu

In Kayirambedu, there are 120 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 3,550 per sq.ft. The median value is Rs 700 per sq.ft, which is equal to the current guideline value of Indra Gandhi Nagar.

• Inba Avenue: Rs 2,389 per sq.ft (2024)
• Iayyappa Gardan: Rs 700 per sq.ft (2024)
• Jawarharlal Nehru Nagar Extention: Rs 700 per sq.ft (2024)
• Jaya Nagar: Rs 700 per sq.ft (2024)
• Guru Ganesh Nagar: Rs 800 per sq.ft (2024)
• Guru Avenue: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Indra Gandhi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, totaling Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Indra Gandhi Nagar?

The Sub Registrar Office that covers Indra Gandhi Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Kayirambedu

The guideline value plays a crucial role in the registration process of property transactions in Kayirambedu. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees based on the higher of the guideline value or the sale price. This ensures that the transaction is conducted transparently and fairly, adhering to the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Indra Gandhi Nagar?

The current guideline value of Indra Gandhi Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 210 per sq.ft in 2007 to Rs 700 per sq.ft in 2012, then decreased to Rs 469 per sq.ft in 2017, and returned to Rs 700 per sq.ft in 2023 and 2024.

What is the land classification for Indra Gandhi Nagar?

The land classification for Indra Gandhi Nagar is Residential Special Type - II, indicating its designated use for residential purposes.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles property registrations for the area.

How is the stamp duty calculated for properties in Indra Gandhi Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 7,00,000 would incur a stamp duty of Rs 49,000.