Guideline Value for Indra Nagar , 2nd Street

Indra Nagar , 2nd Street guideline value

The current guideline value of Indra Nagar , 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Pammal village under the Pammal SRO, with a land classification of Residential Class II Type - I.

How the guideline value of Indra Nagar , 2nd Street has changed

The guideline value for Indra Nagar , 2nd Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, which is a 10% increase from the 2023 revision of Rs 2,000 per sq.ft. Looking further back, the 2017 revision recorded a guideline value of Rs 1,340 per sq.ft, reflecting a significant increase of 49% to the 2023 figure. The overall change from the 2017 to the 2024 revision is an increase of 64%.

It is important to note that there are no figures available for this street in the revisions of 2012, 2007, 2003, and 2002. Therefore, the changes outlined are only between the years where figures are provided.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft as of the 2024 revision. The median guideline value in Pammal is Rs 2,090 per sq.ft, placing Indra Nagar , 2nd Street's current value above this median.

• Indra Nagar , 1st Street: Rs 2,200 per sq.ft (2024)
• Indra Nagar (All Streets): Rs 2,200 per sq.ft (2024)
• Indra Gandhi Salai (Anna Nagar): Rs 2,750 per sq.ft (2024)
• Irattai Pillaiyar Koil 1st Street, Pammal: Rs 2,200 per sq.ft (2024)
• Irattai Pillaiyar Koil 2nd Street, Pammal: Rs 2,200 per sq.ft (2024)
• Irattai Pillaiyar Koil Street, Pammal: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Indra Nagar , 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total cost for these fees Rs 1,98,000. It is important to note that the stamp 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 Nagar , 2nd Street?

The Sub Registrar Office that covers Indra Nagar , 2nd Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075 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 Pammal

The guideline value plays a crucial role in the registration of property transactions in Pammal. It serves as the basis for calculating stamp duty and registration fees, which are essential costs involved in the transfer of property ownership.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately and that the appropriate fees are paid. This helps maintain transparency in property dealings and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Indra Nagar , 2nd Street?

The current guideline value of Indra Nagar , 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, marking a total increase of 64%. The most recent change was a 10% increase from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Indra Nagar , 2nd Street?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers this street?

The Pammal Sub Registrar Office covers Indra Nagar , 2nd Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

Where can I find more information about guideline values in Pammal?

For more information about guideline values in Pammal, you can refer to the registration department's guideline value register available through the TNReginet platform.