Guideline Value for Indra Street

Indra Street guideline value

The current guideline value of Indra Street in Kovilpathagai village is Rs 806 per sq.ft, effective from 1 July 2024. This street falls under the Ambattur SRO and is classified as Residential Class III Type - I.

How the guideline value of Indra Street has changed

The guideline value for Indra Street has undergone several revisions over the years. The earliest recorded figure is from 2012, where the guideline value was Rs 600 per sq.ft. This increased to Rs 402 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, the value rose significantly by 100%, reaching Rs 806 per sq.ft. The 2023 revision maintained the same value of Rs 806 per sq.ft, and this figure has remained unchanged in the 2024 revision as well.

It is important to note that there are no recorded figures for Indra Street in the revisions from the years 2002, 2003, and 2007. Overall, comparing the 2012 figure to the 2024 figure, there has been an increase of 34% in the guideline value.

Guideline values in Kovilpathagai

Kovilpathagai village has a total of 278 streets under the Ambattur SRO, with guideline values for 2024 ranging from Rs 803 to Rs 2,900 per sq.ft. The median guideline value for these streets is Rs 870 per sq.ft, placing Indra Street's 2024 figure below this median.

• Indrani Street: Rs 806 per sq.ft (2024)
• Indra Nagar 2nd Street: Rs 807 per sq.ft (2024)
• Indiraji Street: Rs 806 per sq.ft (2024)
• Jagan Mohan Nagar: Rs 806 per sq.ft (2024)
• I.A.F. Road: Rs 805 per sq.ft (2024)
• Hemalakshmi Street (Ashok Nagar): Rs 806 per sq.ft (2024)

Stamp duty and registration fee for property in Indra Street

For a 1,000 sq.ft plot at the current guideline value of Rs 806 per sq.ft, the total guideline value amounts to Rs 8,06,000. The stamp duty at 7% would be Rs 56,420, and the registration fee at 2% would be Rs 16,120, bringing the total cost for these fees to Rs 72,540. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Indra Street?

The Sub Registrar Office that covers Indra Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Kovilpathagai. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value for the property being bought or sold.

When a buyer or seller approaches the registration office, the guideline value is used to determine the applicable fees. This ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Indra Street?

The current guideline value of Indra Street is Rs 806 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 806 per sq.ft in 2024, reflecting an overall increase of 34% over this period.

What are the other streets in Kovilpathagai with similar guideline values?

Other streets in Kovilpathagai with similar guideline values include Indrani Street, Indra Nagar 2nd Street, Indiraji Street, Jagan Mohan Nagar, I.A.F. Road, and Hemalakshmi Street (Ashok Nagar), all ranging from Rs 805 to Rs 807 per sq.ft in 2024.

What fees are associated with purchasing property in Indra Street?

When purchasing property in Indra Street, buyers should consider stamp duty at 7% and a registration fee at 2% of the guideline value, which is Rs 806 per sq.ft as of 2024.

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

The Sub Registrar Office for Indra Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.