Guideline Value for Indra Gandhi Street

Indra Gandhi Street guideline value

The current guideline value of Indra Gandhi Street in Nallur_2 village, under the Redhills SRO, is Rs 400 per sq.ft as per the 2023 revision. This street falls under the Residential Class III Type - I land classification.

How the guideline value of Indra Gandhi Street has changed

In the 2017 revision, the guideline value for Indra Gandhi Street was Rs 268 per sq.ft. This figure reflects a significant increase of 49% to the current guideline value of Rs 400 per sq.ft established in the 2023 revision. The revisions for the years 2002, 2003, 2007, 2012, and 2024 do not have any figures listed for this street in the register.

From 2017 to 2023, the increase from Rs 268 to Rs 400 indicates a notable adjustment in the guideline value. The absence of figures for the other revisions suggests that there was no recorded change in the guideline value for those years.

Guideline values in Nallur_2

Currently, there are no specific guideline values available for other streets in Nallur_2. Indra Gandhi Street is the only street mentioned in the context of the Redhills SRO.

Stamp duty and registration fee for property in Indra Gandhi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000. Together, the total cost for stamp duty and registration fee would be Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Indra Gandhi Street?

The Sub Registrar Office that covers Indra Gandhi Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Nallur_2

The guideline value plays a crucial role during the registration process of property transactions in Nallur_2. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the buyer must pay stamp duty based on the higher of the guideline value or the actual sale price. 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 Indra Gandhi Street?

The current guideline value of Indra Gandhi Street is Rs 400 per sq.ft as per the 2023 revision.

How much has the guideline value changed over the years?

The guideline value increased from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in 2023, reflecting a 49% increase. There are no figures available for the revisions in 2002, 2003, 2007, 2012, and 2024.

What is the land classification for Indra Gandhi Street?

Indra Gandhi Street falls under the Residential Class III Type - I land classification. This classification indicates the type of development allowed in the area.

What are the stamp duty and registration fees for properties on Indra Gandhi Street?

For a property valued at Rs 4,00,000, the stamp duty would be Rs 28,000 and the registration fee would be Rs 8,000, totaling Rs 36,000. These fees are based on the guideline value.

Where is the Sub Registrar Office for Indra Gandhi Street located?

The Redhills Sub Registrar Office, which covers Indra Gandhi Street, is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.