Guideline Value for Indra Nagar

Indra Nagar guideline value

The current guideline value of Indra Nagar, located in Zaminpallavaram village, is Rs 3,300 per sq.ft as per the 2024 revision, effective from 1 July 2024. This area falls under the Pallavaram Sub Registrar Office and is classified as Residential Class I Type - II.

How the guideline value of Indra Nagar has changed

The guideline value for Indra Nagar has undergone several revisions over the years. The earliest recorded value in 2003 was Rs 690 per sq.ft, which increased to Rs 1,000 per sq.ft in 2007. Following that, the value saw a significant rise to Rs 3,000 per sq.ft in 2012, but then decreased to Rs 2,010 per sq.ft in 2017. The value was revised again to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft in the 2024 revision. The register has no figure for this street in 2002.

Between these revisions, the changes were notable. From 2003 to 2007, there was an increase of 45%, followed by a remarkable 200% jump from 2007 to 2012. However, the value fell by 33% from 2012 to 2017. From 2017 to 2023, the value increased by 49%, and the latest revision from 2023 to 2024 shows a 10% increase. Overall, from 2003 to 2024, the guideline value has increased by 378%.

Guideline values in Zaminpallavaram

Zaminpallavaram village has a total of 638 streets under the Pallavaram SRO with a 2024 guideline value range from Rs 2,100 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which is the same as the guideline value for Indra Nagar.

• Indra Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Indra Gandhi Street: Rs 3,520 per sq.ft (2024)
• Isaiyagam Street: Rs 3,300 per sq.ft (2024)
• Illangovan Street: Rs 3,300 per sq.ft (2024)
• Iyswarya Nagar: Rs 2,750 per sq.ft (2024)
• I.H.F.D. Nagar: 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 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. It is important to note that 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 details.

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 Zaminpallavaram

The guideline value is a crucial factor in the registration process of property transactions in Zaminpallavaram. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps in assessing the fair value of the property. It serves as a reference point for both buyers and sellers, ensuring transparency in the transaction process.

Frequently asked questions

What is the current guideline value of Indra Nagar?

The current guideline value of Indra Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, from Rs 690 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 378% over this period.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles property registrations in Indra Nagar?

The Pallavaram Sub Registrar Office handles property registrations for Indra Nagar, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.

What is the land classification of Indra Nagar?

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