Guideline Value for Indra Nagar ,1st Street,

Indra Nagar ,1st Street, guideline value

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

How the guideline value of Indra Nagar ,1st Street, has changed

The guideline value for Indra Nagar ,1st Street has undergone several revisions over the years. The 2017 revision set the value at Rs 1,340 per sq.ft, which increased to Rs 2,000 per sq.ft in the 2023 revision. The most recent revision in 2024 has raised the guideline value to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, the value rose by 49%, and overall, from 2017 to 2024, there has been a significant increase of 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

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 per the 2024 revision. The median guideline value in the village is Rs 2,090 per sq.ft, placing Indra Nagar ,1st Street's 2024 figure above this median.

• Indra Nagar , 2nd 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 ,1st Street,

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Indra Nagar ,1st Street,?

The Sub Registrar Office covering Indra Nagar ,1st Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 process of property transactions in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is compared with the sale price. The higher of the two values is used to calculate the stamp duty, which is a mandatory fee paid during the registration of the property. This ensures transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Indra Nagar ,1st Street?

The current guideline value of Indra Nagar ,1st 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 an overall increase of 64% over this period.

What is the land classification for Indra Nagar ,1st Street?

Indra Nagar ,1st Street is classified as Residential Class II Type - I.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Indra Nagar ,1st Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at a rate of 7%.