Guideline Value for GANDHI CROSS STREET

Gandhi Cross Street guideline value

The current guideline value of Gandhi Cross Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Gandhi Cross Street has changed

The guideline value of Gandhi Cross Street has seen significant changes over the years. In 2002, the value was Rs 60 per sq.ft, which increased to Rs 100 per sq.ft in 2003, marking a 67% rise. The value then escalated to Rs 400 per sq.ft in 2007, representing a 300% increase. Following this, the 2012 revision set the value at Rs 1,200 per sq.ft, a decrease of 33% from the previous figure. In 2017, it rose to Rs 804 per sq.ft, and by 2023, it further increased to Rs 1,200 per sq.ft. The most recent revision in 2024 established the current value at Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 2100%. There are no figures available for the revisions in years not listed in the register for this street.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, making the guideline value of Gandhi Cross Street below the median.

• Gandhi Cross Street Extn: Rs 1,320 per sq.ft (2024)
• Ganapathypuram Main Road: Rs 1,650 per sq.ft (2024)
• Ganapathypuram 3rd Street: Rs 1,650 per sq.ft (2024)
• Ganapathypuram 2nd Street: Rs 1,650 per sq.ft (2024)
• Ganapathypuram 2nd Cross Street: Rs 1,650 per sq.ft (2024)
• Ganapathypuram 1st Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, while the registration fee at 2% would be Rs 26,400. Together, the total cost for stamp duty and registration fees would be Rs 1,18,800. It is important to note that 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 further calculations.

Which Sub Registrar Office covers Gandhi Cross Street?

The Sub Registrar Office that covers Gandhi Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035, 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 Pallikaranai

The guideline value is a critical factor in property transactions in Pallikaranai. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions. Buyers and sellers must consider this value when negotiating sale prices.

During the registration process, the guideline value is used to calculate stamp duty and registration fees, which are essential costs associated with property transactions. It is important for both buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Gandhi Cross Street?

The current guideline value of Gandhi Cross Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 60 per sq.ft in 2002 to Rs 1,320 per sq.ft in 2024, which is a total increase of 2100% over this period.

What is the land classification for Gandhi Cross Street?

The land classification for Gandhi Cross Street is Residential Class IV Type - II.

How does the guideline value compare to other streets in Pallikaranai?

The guideline value of Rs 1,320 per sq.ft for Gandhi Cross Street is below the median value of Rs 1,650 per sq.ft for other streets in Pallikaranai under the Chennai South Joint I SRO.

What are the fees associated with the registration of property in Gandhi Cross Street?

The fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value, which together can amount to significant costs in property transactions.