Guideline Value for GANDHI 3RD STREET

Gandhi 3rd Street guideline value

The current guideline value of Gandhi 3rd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in the Sholinganallur - 1 village under the Neelankarai SRO, classified as Residential Class II Type - III.

How the guideline value of Gandhi 3rd Street has changed

The guideline value for Gandhi 3rd Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, an increase of 10% from the 2023 figure of Rs 2,000 per sq.ft. Prior to that, in 2017, the guideline value was Rs 1,340 per sq.ft, marking a significant increase of 49% to the 2023 value. There are no figures available for the revisions in 2002, 2003, 2007, and 2012.

Overall, from 2017 to 2024, the guideline value has increased by 64%. This consistent rise reflects changes in the valuation of properties in the area, aligning with the broader trends in the Sholinganallur - 1 region.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO, with a 2024 guideline value range from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is the same as the current value for Gandhi 3rd Street. Below are the guideline values for other streets in Sholinganallur - 1:

• Gandhi 2nd Street Extension: Rs 2,200 per sq.ft (2024)
• Gandhi 2nd Street: Rs 2,200 per sq.ft (2024)
• Gandhi 1st 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 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the stamp 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 detailed calculations.

Which Sub Registrar Office covers Gandhi 3rd Street?

The Sub Registrar Office that covers Gandhi 3rd Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, 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 Sholinganallur - 1

The guideline value plays a crucial role in the registration process of property transactions in Sholinganallur - 1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty, which is based on the higher of the guideline value or the sale price. This ensures that all transactions are conducted fairly and transparently, reflecting the current market conditions.

Frequently asked questions

What is the current guideline value of Gandhi 3rd Street?

The current guideline value of Gandhi 3rd 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 increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, reflecting a total increase of 64% over this period.

What are the stamp duty rates for properties in Gandhi 3rd Street?

The stamp duty for properties in Gandhi 3rd Street is charged at 7% of the guideline value or sale price, whichever is higher.

Which Sub Registrar Office is responsible for Gandhi 3rd Street?

The Neelankarai Sub Registrar Office is responsible for Gandhi 3rd Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What other streets have the same guideline value as Gandhi 3rd Street?

Other streets in Sholinganallur - 1 with the same guideline value of Rs 2,200 per sq.ft include Gandhi 1st Street, Gandhi 2nd Street, Gandhi 2nd Street Extension, and Gandhi Main Road-New Kumaran Joint.