Guideline Value for Indra Nagar 6th Street

Indra Nagar 6th Street guideline value

The current guideline value of Indra Nagar 6th Street in Zaminpallavaram village is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class I Type - II.

How the guideline value of Indra Nagar 6th Street has changed

The guideline value for Indra Nagar 6th Street has undergone several revisions over the years. In 2003, the value was Rs 690 per sq.ft, which increased to Rs 1,000 per sq.ft in 2007, marking a significant rise of 45%. The value then saw a substantial increase of 200% to reach Rs 3,000 per sq.ft in 2012. However, it decreased by 33% to Rs 2,010 per sq.ft in 2017. Following this, the value rose sharply by 49% to Rs 3,000 per sq.ft in 2023, and most recently, it has increased by 10% to Rs 3,300 per sq.ft in the 2024 revision.

It is important to note that there is no guideline value figure for Indra Nagar 6th Street in the 2002 revision. Overall, from 2003 to 2024, the guideline value has increased by 378%.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which is the same as the current guideline value for Indra Nagar 6th Street.

• Indra Nagar: Rs 3,300 per sq.ft (2024)
• Indra Gandhi Street: Rs 3,520 per sq.ft (2024)
• Isaiyagam Street: Rs 3,300 per sq.ft (2024)
• Illangovan Street: Rs 3,300 per sq.ft (2024)
• Iyswarya Nagar: Rs 2,750 per sq.ft (2024)
• I.H.F.D. Nagar: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Indra Nagar 6th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Indra Nagar 6th Street?

The Sub Registrar Office that covers Indra Nagar 6th Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Zaminpallavaram. It serves as a benchmark for determining the stamp duty and registration fees that are payable when buying or selling property. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements during the transaction.

When a property is registered, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the correct amount based on the established guideline values, which reflect the market conditions for different areas.

Frequently asked questions

What is the current guideline value of Indra Nagar 6th Street?

The current guideline value of Indra Nagar 6th Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, from Rs 690 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 378% over the years.

What is the land classification of Indra Nagar 6th Street?

Indra Nagar 6th Street is classified as Residential Class I Type - II, indicating its designation for residential purposes.

What are the stamp duty and registration fees for property in Indra Nagar 6th Street?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles property registration for Indra Nagar 6th Street?

The Pallavaram Sub Registrar Office handles property registration for Indra Nagar 6th Street, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.