Guideline Value for GANDHI 1ST STREET

Gandhi 1st Street guideline value

The current guideline value of Gandhi 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in the Sholinganallur - 1 village and falls under the Neelankarai SRO with a land classification of Residential Class II Type - III.

How the guideline value of Gandhi 1st Street has changed

The guideline value for Gandhi 1st Street has seen significant changes over the years. The 2017 revision set the value at Rs 1,340 per sq.ft. This increased to Rs 2,000 per sq.ft in the 2023 revision, marking a 49% increase. The most recent revision in 2024 raised the value further to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are a total of 754 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which is equal to the guideline value of Gandhi 1st Street for 2024.

• Gandhi 2nd Street: Rs 2,200 per sq.ft (2024)
• Gandhi 2nd Street Extension: Rs 2,200 per sq.ft (2024)
• Gandhi 3rd Street: Rs 2,200 per sq.ft (2024)
• Ganapathy Syndicate Colony: Rs 3,300 per sq.ft (2024)
• Gandhi Main Road-New Kumaran Joint: Rs 2,200 per sq.ft (2024)
• Ganapathy Nagar Colony: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total cost for these fees would be Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gandhi 1st Street?

The Sub Registrar Office that covers Gandhi 1st Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a crucial factor when registering property in Sholinganallur - 1. It serves as the basis for calculating the stamp duty and registration fees that buyers must pay during the property transaction process.

When a property is bought or sold, the guideline value ensures that the transaction is recorded at a fair value, helping to maintain transparency and standardization in the real estate market.

Frequently asked questions

What is the current guideline value of Gandhi 1st Street?

The current guideline value of Gandhi 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,340 per sq.ft in 2017 to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What is the land classification for Gandhi 1st Street?

The land classification for Gandhi 1st Street is Residential Class II Type - III.

Where can I find the Sub Registrar Office for Gandhi 1st Street?

The Sub Registrar Office for Gandhi 1st Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.

What are the stamp duty and registration fees for property in Gandhi 1st Street?

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 1,98,000.