Guideline Value for Mrs. Indiragandhi Street

Mrs. Indiragandhi Street guideline value

The current guideline value of Mrs. Indiragandhi Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Mrs. Indiragandhi Street has changed

The guideline value for Mrs. Indiragandhi Street has seen several revisions over the years. The 2007 revision set the value at Rs 800 per sq.ft, which increased to Rs 2,010 per sq.ft in 2017. This represents a significant rise of 151%. Following this, the 2023 revision brought the value to Rs 3,000 per sq.ft, marking a 49% increase from the previous revision. The most recent revision in 2024 has increased the guideline value to Rs 3,300 per sq.ft, reflecting a 10% rise from 2023.

There are no figures available for the revisions in 2002, 2003, and 2012 for this street. Overall, from 2007 to 2024, the guideline value has increased by 313%.

Guideline values in Kodambakkam

Kodambakkam has a total of 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft as of 2024. The median guideline value in this area is Rs 4,900 per sq.ft, indicating that Mrs. Indiragandhi Street's 2024 figure is below this median.

• M.P.C. Street (Ma.Po.C) (M.G.R.Nagar): Rs 3,300 per sq.ft (2024)
• Mullai Street: Rs 3,300 per sq.ft (2024)
• Moovender Street: Rs 3,300 per sq.ft (2024)
• Munusamy Maistry StreetBharathi Block: Rs 3,300 per sq.ft (2024)
• Moonai Garden Thottam Pillaiyar Koil Street: Rs 4,100 per sq.ft (2024)
• Moogambikai Street: Rs 4,100 per sq.ft (2024)

Stamp duty and registration fee for property in Mrs. Indiragandhi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total fees Rs 2,97,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mrs. Indiragandhi Street?

The Sub Registrar Office that covers Mrs. Indiragandhi Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is an important factor in property transactions in Kodambakkam. It serves as a benchmark for determining the minimum value of a property for registration purposes. When buying or selling property, the guideline value is used to calculate stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

It is essential for buyers and sellers to be aware of the current guideline value as it directly impacts the costs associated with property transactions. Ensuring that the transaction is registered at or above the guideline value is crucial for compliance with local regulations.

Frequently asked questions

What is the current guideline value of Mrs. Indiragandhi Street?

The current guideline value of Mrs. Indiragandhi Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 800 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, an overall increase of 313%.

What are the stamp duty and registration fees for properties on this street?

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 Sub Registrar Office handles registrations for Mrs. Indiragandhi Street?

The Ashok Nagar Sub Registrar Office handles registrations for Mrs. Indiragandhi Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Mrs. Indiragandhi Street?

The land classification for Mrs. Indiragandhi Street is Residential Class IV Type - II.