Guideline Value for Indra Nagar

Indra Nagar guideline value

The current guideline value of Indra Nagar, located in Perungalathur village under the Padappai SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class IV Type - I land classification.

How the guideline value of Indra Nagar has changed

The guideline value for Indra Nagar has undergone several revisions over the years. In 2007, the value was Rs 250 per sq.ft, which saw a significant increase to Rs 1,200 per sq.ft in 2012. However, the value decreased by 33% to Rs 804 per sq.ft in 2017. The 2023 revision marked a rise to Rs 1,200 per sq.ft, and the most recent 2024 revision increased it further to Rs 1,320 per sq.ft, reflecting a 10% change from the previous year. It is important to note that the register has no figure for this street for the years 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 428%. The changes between the revisions highlight the fluctuations in property valuation, with the most notable increase occurring between 2007 and 2012, where the value rose by 380%.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft, with a median value of Rs 2,310 per sq.ft. The guideline value for Indra Nagar is below this median.

• Indra Gandhi Street: Rs 2,640 per sq.ft (2024)
• Irai kutty Street: Rs 1,980 per sq.ft (2024)
• Ishwarya Garden: Rs 3,960 per sq.ft (2024)
• Ilango Street: Rs 2,310 per sq.ft (2024)
• Janaki Raman Street: Rs 2,310 per sq.ft (2024)
• Haritha Enclave (M.S.): Rs 1,650 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 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, while the registration fee at 2% would be Rs 26,400, bringing the total fees to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perungalathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees, which are necessary for the legal transfer of ownership. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Indra Nagar?

The current guideline value of Indra Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, reflecting a total increase of 428% over the years.

What are the guideline values of other streets in Perungalathur?

Other streets in Perungalathur have varying guideline values, with rates ranging from Rs 1,320 to Rs 5,500 per sq.ft. For example, Indra Gandhi Street is Rs 2,640 per sq.ft, while Ishwarya Garden is Rs 3,960 per sq.ft.

What is the stamp duty rate for property in Indra Nagar?

The stamp duty rate for property in Indra Nagar is 7% of the guideline value or the sale price, whichever is higher.

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

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.