Guideline Value for Indra Nagar

Indra Nagar guideline value

The current guideline value of Indra Nagar, a village in Mangadu -A under the Kunrathur SRO, is Rs 2,090 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Indra Nagar has changed

The guideline value for Indra Nagar has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,090 per sq.ft, an increase from Rs 1,900 per sq.ft in 2023, marking a change of +10%. Prior to that, the 2017 revision recorded a value of Rs 1,273 per sq.ft, indicating a significant increase of +49% from 2017 to 2023. The register has no figure for this street for the years 2002, 2003, 2007, and 2012.

Overall, from the 2017 revision to the current 2024 revision, the guideline value has increased by +64%. This reflects the changes in property values in the area over the last few years.

Guideline values in Mangadu -A

In Mangadu -A, there are 208 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 1,870 per sq.ft, placing Indra Nagar's 2024 figure above this median.

• Hari Sai Nagar: Rs 1,870 per sq.ft (2024)
• Govindaraj Nagar: Rs 1,540 per sq.ft (2024)
• Gangai Amman Koil Street: Rs 1,540 per sq.ft (2024)
• Kaliamman Avenue: Rs 1,320 per sq.ft (2024)
• Gandhi Nagar / Jeeva Nagar: Rs 1,540 per sq.ft (2024)
• Kamaraj Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Indra Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,090 per sq.ft, the total guideline value amounts to Rs 20,90,000. The stamp duty charged at 7% would be Rs 1,46,300, and the registration fee at 2% would be Rs 41,800, bringing the total cost for these fees to Rs 1,88,100. Duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Indra Nagar?

The Sub Registrar Office that covers Indra Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mangadu -A

The guideline value plays a crucial role in the registration process when buying or selling property in Mangadu -A. It is used to determine the stamp duty and registration fees that need to be paid during the transaction.

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

Frequently asked questions

What is the current guideline value of Indra Nagar?

The current guideline value of Indra Nagar is Rs 2,090 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed from 2017 to 2024?

From the 2017 revision to the 2024 revision, the guideline value has increased by +64%, moving from Rs 1,273 per sq.ft to Rs 2,090 per sq.ft.

What are the guideline values of other streets in Mangadu -A?

Other streets in Mangadu -A have varying guideline values, with rates ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median for these streets is Rs 1,870 per sq.ft.

What fees are associated with buying property in Indra Nagar?

When buying property in Indra Nagar, you will incur a stamp duty of 7% and a registration fee of 2% based on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Indra Nagar?

The Sub Registrar Office for Indra Nagar is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles the registration of property transactions in the area.