Guideline Value for Indra Nagar

Indra Nagar guideline value

The current guideline value of Indra Nagar is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Grandlyon village, under the Redhills SRO, and is classified as Residential Class II Type - I.

How the guideline value of Indra Nagar has changed

Since the 2007 revision, the guideline value for Indra Nagar has seen significant changes. In 2007, the value was Rs 300 per sq.ft, which increased to Rs 600 per sq.ft in 2012. However, it then decreased to Rs 402 per sq.ft in 2017. The 2023 revision saw a notable rise to Rs 600 per sq.ft, and the current value in 2024 is Rs 660 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 120%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Grandlyon

In Grandlyon, there are 82 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 1,500 per sq.ft. The median value is Rs 660 per sq.ft, which matches the guideline value of Indra Nagar.

• Iswariya Nagar: Rs 440 per sq.ft (2024)
• Jamuna Nagar: Rs 440 per sq.ft (2024)
• Jh Nagar: Rs 800 per sq.ft (2024)
• Gayathri Nagar: Rs 440 per sq.ft (2024)
• Kalaivanar Street: Rs 660 per sq.ft (2024)
• Kalikambal Nagar: Rs 440 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 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total cost for these fees to Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Indra Nagar?

The Sub Registrar Office that covers Indra Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Grandlyon. It serves as a benchmark for determining the minimum value of a property, ensuring that the transaction is documented accurately and transparently.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential for the legal transfer of property ownership. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Indra Nagar?

The current guideline value of Indra Nagar is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 660 per sq.ft in 2024, reflecting an overall increase of 120% over the years.

What is the land classification of Indra Nagar?

Indra Nagar is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where is the Redhills Sub Registrar Office located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the stamp duty calculated for properties in Indra Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 at 7%.