Guideline Value for Indra Nagar 2nd Street

Indra Nagar 2nd Street guideline value

The current guideline value of Indra Nagar 2nd Street is Rs 807 per sq.ft, effective from 1 July 2024. This street is located in Kovilpathagai village under the Ambattur SRO, and is classified as Residential Class III Type - II.

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

In the 2012 revision, the guideline value was Rs 500 per sq.ft. This increased to Rs 335 per sq.ft in the 2017 revision, representing a decrease of 33%. However, from 2017 to 2023, the value rose significantly to Rs 807 per sq.ft, marking an increase of 141%. The 2024 revision maintains this value at Rs 807 per sq.ft, indicating no change from the previous year.

The register does not contain figures for the years 2002, 2003, and 2007 for Indra Nagar 2nd Street. Overall, from 2012 to 2024, the guideline value has increased by 61%.

Guideline values in Kovilpathagai

Kovilpathagai village has a total of 278 streets under the Ambattur SRO, with guideline values ranging from Rs 803 to Rs 2,900 per sq.ft. The median guideline value for these streets is Rs 870 per sq.ft, placing Indra Nagar 2nd Street's 2024 figure below this median.

• Indrani Street: Rs 806 per sq.ft (2024)
• Indra Street: Rs 806 per sq.ft (2024)
• Indiraji Street: Rs 806 per sq.ft (2024)
• Jagan Mohan Nagar: Rs 806 per sq.ft (2024)
• I.A.F. Road: Rs 805 per sq.ft (2024)
• Hemalakshmi Street (Ashok Nagar): Rs 806 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 807 per sq.ft, the total guideline value would be Rs 8,07,000. The stamp duty at 7% would amount to Rs 56,490, and the registration fee at 2% would be Rs 16,140, bringing the total fees to Rs 72,630. 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 more details.

Which Sub Registrar Office covers Indra Nagar 2nd Street?

The Sub Registrar Office covering Indra Nagar 2nd Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Kovilpathagai. It serves as a basis for calculating stamp duty and registration fees when buying or selling property. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

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 807 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 500 per sq.ft in 2012 to Rs 807 per sq.ft in 2024, which is an overall increase of 61%.

What is the land classification of Indra Nagar 2nd Street?

Indra Nagar 2nd Street is classified as Residential Class III Type - II.

How do I calculate stamp duty and registration fees for property in Indra Nagar 2nd Street?

To calculate stamp duty and registration fees, you can use the guideline value of the property. For example, a 1,000 sq.ft plot at Rs 807 per sq.ft would have a total guideline value of Rs 8,07,000, leading to specific fees based on that value.

Where is the Sub Registrar Office for Indra Nagar 2nd Street located?

The Sub Registrar Office for Indra Nagar 2nd Street is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.