Guideline Value for Indra Nagar

Indra Nagar guideline value

The current guideline value of Indra Nagar, located in Pothur village under the Redhills SRO, is Rs 440 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Indra Nagar has changed

The guideline value for Indra Nagar has seen several revisions over the years. In 2002, the value was Rs 190 per sq.ft, which increased significantly to Rs 20 per sq.ft in 2003. Following that, the value rose dramatically to Rs 200 per sq.ft in 2007, and then doubled to Rs 400 per sq.ft in 2012. However, it decreased to Rs 268 per sq.ft in 2017 before increasing again to Rs 400 per sq.ft in 2023.

The most recent revision in 2024 set the guideline value at Rs 440 per sq.ft, marking a 10% increase from the 2023 figure. Overall, from 2002 to 2024, the guideline value has increased by 132%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Pothur

Pothur village has 98 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 2,000 per sq.ft, with a median value of Rs 550 per sq.ft. Indra Nagar's 2024 figure is below this median.

• Jagadeeswari Nagar Extn.: Rs 440 per sq.ft (2024)
• Indhirani Nagar: Rs 550 per sq.ft (2024)
• Jagedeswari Nagar: Rs 550 per sq.ft (2024)
• Jageshwari Nagar: Rs 550 per sq.ft (2024)
• Jai Jalaram Nagar: Rs 550 per sq.ft (2024)
• Hi Fi AVENUE: Rs 550 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 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, resulting in a total of Rs 39,600. The duty is charged on the guideline value or the sale price, whichever is higher. 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 Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Pothur. It is used to determine the stamp duty and registration fees payable when a property is bought or sold. Buyers and sellers must refer to the current guideline value to ensure compliance with local regulations.

When registering a property, the guideline value serves as a benchmark for assessing the transaction's value. The registration authorities will charge the applicable fees based on the guideline value or the sale price, whichever is higher, ensuring that all transactions are appropriately valued.

Frequently asked questions

What is the current guideline value of Indra Nagar?

The current guideline value of Indra Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 190 per sq.ft in 2002 to Rs 440 per sq.ft in 2024, reflecting various revisions over the years.

What is the classification of land in Indra Nagar?

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

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

For a property valued at Rs 4,40,000, the stamp duty would be Rs 30,800, and the registration fee would be Rs 8,800, totaling Rs 39,600.

Where is the Sub Registrar Office for Indra Nagar located?

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