Guideline Value for Indra Garden

Indra Garden guideline value

The current guideline value of Indra Garden, located in Sholavaram village under the Redhills SRO, is Rs 770 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Indra Garden has changed

The guideline value of Indra Garden has seen significant changes over the years. In 2003, the value was Rs 20 per sq.ft, which increased dramatically to Rs 300 per sq.ft in 2007. Following that, the value rose to Rs 700 per sq.ft in 2012, but then decreased to Rs 469 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 700 per sq.ft, and the most recent revision in 2024 set it at Rs 770 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 3,750%. The register has no figure for the year 2002 for this street.

Guideline values in Sholavaram

In Sholavaram, there are 98 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 515 to Rs 3,500 per sq.ft, with a median of Rs 660 per sq.ft. The guideline value of Indra Garden is above this median, indicating its relative position in the area.

• Jai Sai Nagar: Rs 1,320 per sq.ft (2024)
• Gomathiamman Nagar Annex XVIII: Rs 550 per sq.ft (2024)
• Gnt Road: Rs 1,650 per sq.ft (2024)
• Kakkan Street: Rs 550 per sq.ft (2024)
• Gandthi Street: Rs 660 per sq.ft (2024)
• Kamarajar Street: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Indra Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, while the registration fee at 2% would be Rs 15,400. Together, the total cost for these fees would be Rs 69,300. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Indra Garden?

The Sub Registrar Office covering Indra Garden is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Sholavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When you buy or sell property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be used to calculate the applicable duties and fees.

Frequently asked questions

What is the current guideline value of Indra Garden?

The current guideline value of Indra Garden is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 20 per sq.ft in 2003 to Rs 770 per sq.ft in 2024, representing a significant increase of 3,750% over this period.

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

Other streets in Sholavaram have various guideline values, ranging from Rs 550 to Rs 1,650 per sq.ft. For example, Jai Sai Nagar is Rs 1,320 per sq.ft, while Gomathiamman Nagar Annex XVIII is Rs 550 per sq.ft.

What are the fees associated with buying property in Indra Garden?

The fees for buying property in Indra Garden 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 Garden located?

The Sub Registrar Office for Indra Garden is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.