Guideline Value for Indra Nagar ( Bharatha Madha St)

Indra Nagar ( Bharatha Madha St) guideline value

The current guideline value of Indra Nagar ( Bharatha Madha St) is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village under the Tambaram Joint 1 SRO, classified as Residential Class I Type - III.

How the guideline value of Indra Nagar ( Bharatha Madha St) has changed

In the 2012 revision, the guideline value was Rs 1,500 per sq.ft. This figure remained the same until the 2017 revision, which saw a decrease to Rs 1,005 per sq.ft, marking a decline of 33%. The value then increased significantly in the 2023 revision to Rs 1,500 per sq.ft, followed by a further increase to Rs 1,650 per sq.ft in the 2024 revision, reflecting a 10% rise.

From 2017 to 2023, the guideline value increased by 49%. Overall, comparing the 2012 and 2024 revisions, there has been a total increase of 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is the same as the current value for Indra Nagar ( Bharatha Madha St).

• Indira Gandhi Street: Rs 1,650 per sq.ft (2024)
• Ilango St: Rs 1,650 per sq.ft (2024)
• Ibrahim Street: Rs 1,650 per sq.ft (2024)
• Jagajeevanram Street: Rs 1,650 per sq.ft (2024)
• Homes Road: Rs 4,400 per sq.ft (2024)
• Jahir Hussian St: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Indra Nagar ( Bharatha Madha St)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Indra Nagar ( Bharatha Madha St)?

The Sub Registrar Office that covers Indra Nagar ( Bharatha Madha St) 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 details.

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

The guideline value is a crucial factor in property transactions in Chitlapakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must be aware of the guideline value to ensure compliance with registration requirements and to calculate the applicable stamp duty and registration fees.

When purchasing property, the guideline value serves as a benchmark for the transaction, ensuring that the property is not undervalued. This helps maintain transparency and fairness in property dealings within the region.

Frequently asked questions

What is the current guideline value of Indra Nagar ( Bharatha Madha St)?

The current guideline value of Indra Nagar ( Bharatha Madha St) is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2012 revision, the guideline value has changed from Rs 1,500 per sq.ft to Rs 1,650 per sq.ft in 2024. The most significant change occurred between 2017 and 2023, where the value increased by 49%.

What is the registration fee for property in Indra Nagar ( Bharatha Madha St)?

The registration fee for property in Indra Nagar ( Bharatha Madha St) is 2% of the guideline value. For a property valued at Rs 16,50,000, the registration fee would be Rs 33,000.

Where can I find the Sub Registrar Office for Indra Nagar ( Bharatha Madha St)?

The Sub Registrar Office for Indra Nagar ( Bharatha Madha St) is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.

What is the land classification of Indra Nagar ( Bharatha Madha St)?

Indra Nagar ( Bharatha Madha St) is classified as Residential Class I Type - III, which indicates its suitability for residential development.