Guideline Value for Indra Nagar

Indra Nagar guideline value

The current guideline value of Indra Nagar is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Nandambakkam village, under the Padappai SRO, and is classified as Residential Class II Type - I.

How the guideline value of Indra Nagar has changed

The guideline value of Indra Nagar has seen significant changes over the years. In 2007, the value was Rs 75 per sq.ft, which then increased to Rs 400 per sq.ft in 2012. This was a substantial rise of 433%. The value continued to rise to Rs 469 per sq.ft in 2017, marking an increase of 17%. From 2017 to 2023, the guideline value further increased to Rs 700 per sq.ft, a change of 49%. The latest revision in 2024 has set the guideline value at Rs 770 per sq.ft, reflecting a 10% increase from the previous year.

It is worth noting that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 927%.

Guideline values in Nandambakkam

Nandambakkam has 94 streets under the Padappai SRO, with guideline values ranging from Rs 440 to Rs 2,300 per sq.ft. The median guideline value for these streets is Rs 880 per sq.ft, placing Indra Nagar's 2024 figure below that median.

• Iyyan Nagar: Rs 880 per sq.ft (2024)
• Kalaignar Nagar: Rs 720 per sq.ft (2024)
• Kamakshi Nagar: Rs 880 per sq.ft (2024)
• Gandhi Nagar: Rs 990 per sq.ft (2024)
• Ganapathy Nagar: Rs 990 per sq.ft (2024)
• Dharmaraja Nagar: Rs 770 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 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, making the total fees together Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Indra Nagar?

The Sub Registrar Office that covers Indra Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nandambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of property registration.

When a property is sold, the guideline value is used to ensure that the transaction is recorded accurately and that the appropriate taxes are collected. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Indra Nagar?

The current guideline value of Indra Nagar is Rs 770 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 75 per sq.ft to Rs 770 per sq.ft in 2024, marking an overall increase of 927%.

What is the median guideline value for streets in Nandambakkam?

The median guideline value for streets in Nandambakkam is Rs 880 per sq.ft, which is above the current value of Indra Nagar.

What are the stamp duty and registration fees for properties in Indra Nagar?

For a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 and the registration fee would be Rs 15,400, totaling Rs 69,300.

Where is the Sub Registrar Office for Indra Nagar located?

The Sub Registrar Office for Indra Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.