Guideline Value for Indrakattan Colony

Indrakattan Colony guideline value

The current guideline value of Indrakattan Colony is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Hastinapuram village under the Pallavaram SRO, classified as Residential Class III Type - I.

How the guideline value of Indrakattan Colony has changed

The guideline value for Indrakattan Colony has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 400 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in the 2012 revision. However, the value then decreased by 33% to Rs 1,005 per sq.ft in the 2017 revision. The 2023 revision saw a substantial increase of 49%, raising the value to Rs 1,500 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 1,650 per sq.ft, marking a 10% rise from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 313%.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median guideline value for the area is Rs 2,970 per sq.ft, placing Indrakattan Colony's 2024 figure below this median.

• Indra Nagar: 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 Indrakattan Colony

For a 1,000 sq.ft plot at the current rate, the 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, totaling Rs 1,48,500. It is important to note that 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 Indrakattan Colony?

The Sub Registrar Office that covers Indrakattan Colony 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 plays a crucial role in property transactions in Hastinapuram. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling a property. Buyers and sellers must refer to the current guideline value to understand the financial implications of their transactions.

When registering a property, the guideline value is considered to ensure that the transaction is recorded accurately. It serves as a benchmark for the authorities to assess the value of the property being transferred and to calculate the applicable fees.

Frequently asked questions

What is the current guideline value of Indrakattan Colony?

The current guideline value of Indrakattan Colony 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, marking a significant increase of 313% over the years.

What are the other streets with guideline values in Hastinapuram?

Other streets in Hastinapuram include Indra Nagar, Indira Cotton Mills Quarters, Illango Street, Iyra Aaranya, Iyyasamy School Street, and Iyyasamy Street, with varying guideline values.

What is the stamp duty rate for properties in Indrakattan Colony?

The stamp duty rate for properties in Indrakattan Colony is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Indrakattan Colony?

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