Guideline Value for Indra Nagar

Indra Nagar guideline value

The current guideline value of Indra Nagar, located in Hastinapuram village under the Pallavaram SRO, is Rs 1,650 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class III Type - I land classification.

How the guideline value of Indra Nagar has changed

The guideline value for Indra Nagar has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 400 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in 2012, marking a 275% rise. However, in the 2017 revision, the value decreased to Rs 1,005 per sq.ft, a decline of 33%. The subsequent revision in 2023 saw an increase to Rs 1,500 per sq.ft, followed by the latest revision in 2024, which set the value at Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 313%. Notably, there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft, with a median value of Rs 2,970 per sq.ft. The guideline value for Indra Nagar is below this median.

• Indrakattan Colony: Rs 1,650 per sq.ft (2024)
• Indira Cotton Mills Quarters: Rs 2,380 per sq.ft (2024)
• Illango Street: Rs 1,650 per sq.ft (2024)
• Iyra Aaranya: Rs 2,970 per sq.ft (2024)
• Iyyasamy School Street: Rs 2,970 per sq.ft (2024)
• Iyyasamy Street: Rs 4,400 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 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000. Together, the total cost for these fees would be Rs 1,48,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. 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 Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Hastinapuram. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value will influence the amount of stamp duty and registration fees that need to be paid.

During the registration process, the buyer and seller must ensure that the sale price meets or exceeds the guideline value. This helps in maintaining transparency and fairness in property transactions, ensuring that the government receives appropriate revenue from stamp duties.

Frequently asked questions

What is the current guideline value of Indra Nagar?

The current guideline value of Indra Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 313% over the years.

What is the registration office for Indra Nagar?

The registration office for Indra Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What are the stamp duty rates for property transactions?

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

Where can I find more information on stamp duty and registration fees?

You can find more information on stamp duty and registration fees using the stamp duty and registration fee calculator.