Guideline Value for Indra Nagar

Indra Nagar guideline value

The current guideline value of Indra Nagar, located in Kathivakkam village under the Thiruvottiyur SRO, is Rs 1,001 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Indra Nagar has changed

The guideline value for Indra Nagar has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 90 per sq.ft. This increased to Rs 107 per sq.ft in 2003, marking a change of +19%. The value then rose significantly to Rs 300 per sq.ft in 2007, reflecting an increase of +180%. The 2012 revision set the value at Rs 800 per sq.ft, which was a +167% increase from the previous figure. However, the 2017 revision saw a decrease to Rs 536 per sq.ft, a drop of -33%. In 2023, the value increased to Rs 1,000 per sq.ft, and the latest revision in 2024 has set it at Rs 1,001 per sq.ft, showing no change from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +1,012%. The register has no figures for the years between these revisions for this street.

Guideline values in Kathivakkam

Kathivakkam village has 47 streets under the Thiruvottiyur SRO, with guideline values for 2024 ranging from Rs 1,000 to Rs 1,600 per sq.ft. The median value is Rs 1,001 per sq.ft, which aligns with the current guideline value of Indra Nagar.

• Harizan colony: Rs 1,000 per sq.ft (2024)
• Kamalammal Nagar: Rs 1,000 per sq.ft (2024)
• Gandhi Nagar: Rs 1,001 per sq.ft (2024)
• Kamaraj Nagar All Street: Rs 1,100 per sq.ft (2024)
• Ennorekuppam: Rs 1,000 per sq.ft (2024)
• Ellaiamman Koil Street: Rs 1,100 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 1,001 per sq.ft, the total guideline value would be Rs 10,01,000. The stamp duty at 7% would be Rs 70,070, and the registration fee at 2% would be Rs 20,020, bringing the total to Rs 90,090. 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 further calculations.

Which Sub Registrar Office covers Indra Nagar?

The Sub Registrar Office covering Indra Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more details.

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

The guideline value is a crucial factor during property transactions in Kathivakkam. It serves as a benchmark for determining the minimum price at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration regulations.

During the registration process, the guideline value is used to calculate stamp duty and registration fees, which are mandatory costs associated with property transactions. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration of the property.

Frequently asked questions

What is the current guideline value of Indra Nagar?

The current guideline value of Indra Nagar is Rs 1,001 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 90 per sq.ft in 2002 to Rs 1,001 per sq.ft in 2024, showing an overall increase of +1,012% over the years.

What is the land classification for Indra Nagar?

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

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

The Sub Registrar Office for Indra Nagar is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

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

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 10,01,000, the stamp duty would be Rs 70,070.