Guideline Value for Indra Nagar

Indra Nagar guideline value

The current guideline value of Indra Nagar, located in Puzhal village under the Redhills SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Indra Nagar has changed

The guideline value of Indra Nagar has experienced several revisions over the years. Starting from the 2002 revision, the rate was Rs 1,087 per sq.ft. In 2003, it dropped to Rs 120 per sq.ft, marking a significant decrease of 89%. The value then increased to Rs 300 per sq.ft in 2007, a rise of 150%. The 2012 revision set the value at Rs 800 per sq.ft, reflecting an increase of 167%. However, in 2017, the value decreased to Rs 536 per sq.ft, which was a decline of 33%. The 2023 revision saw a considerable increase to Rs 1,000 per sq.ft, followed by the latest revision in 2024, which raised the value to Rs 1,100 per sq.ft, a change of 10%.

There are no figures available for the years not mentioned in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by just 1%.

Guideline values in Puzhal

In Puzhal village, there are 270 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 1,102 per sq.ft, placing Indra Nagar's 2024 figure slightly below that median.

• Indira Nagar Annex: Rs 1,100 per sq.ft (2024)
• Hari Gopal Enclave: Rs 1,102 per sq.ft (2024)
• Gurusanthi Nagar: Rs 1,650 per sq.ft (2024)
• Jeeva 1st Street: Rs 1,650 per sq.ft (2024)
• Jeeva 2nd Street: Rs 1,650 per sq.ft (2024)
• Jeeva 3rd Street: 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 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty, charged at 7%, would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. It is important to note that the 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 detailed calculations.

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 Puzhal

The guideline value is a crucial factor during the registration of property transactions in Puzhal. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a buyer or seller approaches the Sub Registrar Office, the guideline value helps ensure that the transaction is recorded accurately, reflecting the official valuation of the property. This process helps maintain transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Indra Nagar?

The current guideline value of Indra Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,087 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, with various increases and decreases across different revisions.

What is the land classification of Indra Nagar?

Indra Nagar is classified as Residential Class II Type - I.

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

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

How is stamp duty calculated for properties in Indra Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 11,00,000, the stamp duty would be Rs 77,000 at 7%.