Guideline Value for Indra Gandhi Street

Indra Gandhi Street guideline value

The current guideline value of Indra Gandhi Street in Kaspapuram village is Rs 550 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - III.

How the guideline value of Indra Gandhi Street has changed

In the 2012 revision, the guideline value was Rs 500 per sq.ft. This figure remained the same until the 2017 revision, where it decreased to Rs 335 per sq.ft, marking a decline of 33%. The subsequent 2023 revision saw a significant increase to Rs 500 per sq.ft, followed by another rise to Rs 550 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kaspapuram

Kaspapuram village has a total of 76 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 440 to Rs 4,300 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, which means that the 2024 guideline value of Indra Gandhi Street is below this median.

• Jayalalitha Street: Rs 1,100 per sq.ft (2024)
• Joel Villa: Rs 1,650 per sq.ft (2024)
• Ganesh Nagar 6th Street: Rs 1,320 per sq.ft (2024)
• Ganesh Nagar 5th Street: Rs 1,320 per sq.ft (2024)
• Ganesh Nagar 4th Street: Rs 1,320 per sq.ft (2024)
• Ganesh Nagar 3rd Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Indra Gandhi Street

For a 1,000 sq.ft plot at the current rate of Rs 550 per sq.ft, the guideline value amounts to Rs 5,50,000. The stamp duty, charged at 7%, would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, making the total fees together Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Indra Gandhi Street?

The Sub Registrar Office that covers Indra Gandhi Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Kaspapuram

The guideline value is a crucial factor in property transactions in Kaspapuram, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with local regulations.

At the time of registration, 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.

Frequently asked questions

What is the current guideline value of Indra Gandhi Street?

The current guideline value of Indra Gandhi Street is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 500 per sq.ft in 2012, dropping to Rs 335 per sq.ft in 2017, and then increasing to Rs 500 per sq.ft in 2023, followed by Rs 550 per sq.ft in 2024.

What are the guideline values of other streets in Kaspapuram?

Other streets in Kaspapuram have varying guideline values, ranging from Rs 440 to Rs 4,300 per sq.ft, with the median being Rs 1,100 per sq.ft.

What fees are associated with property registration in Kaspapuram?

Fees for property registration include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Indra Gandhi Street is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.