Guideline Value for GANDHI NAGAR 1 TO 3 STREETS

Gandhi Nagar 1 To 3 Streets guideline value

The current guideline value for Gandhi Nagar 1 To 3 Streets is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Kilkattalai village under the Pallavaram SRO, classified as Mixed Type - II land.

How the guideline value of Gandhi Nagar 1 To 3 Streets has changed

Over the years, the guideline value of Gandhi Nagar 1 To 3 Streets has seen several revisions. The 2012 revision recorded a value of Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in 2017. This marked a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, reaching Rs 3,000 per sq.ft. The latest revision in 2024 has further increased the guideline value to Rs 3,300 per sq.ft, reflecting a 10% rise from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Kilkattalai

In Kilkattalai, there are 194 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,530 per sq.ft, placing the 2024 figure for Gandhi Nagar 1 To 3 Streets above the median.

• Gandhi Nagar 1 To 3 Main Road: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar Main Road: Rs 4,125 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Nagar 1 To 3 Streets

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, while the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Gandhi Nagar 1 To 3 Streets?

The Sub Registrar Office that covers Gandhi Nagar 1 To 3 Streets is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Kilkattalai. It is used to determine the minimum value for registration purposes, ensuring that properties are not undervalued during sales. Buyers and sellers must be aware of the current guideline value to avoid discrepancies during the registration process.

When a property is sold, the guideline value is referenced to calculate the stamp duty and registration fees, which are mandatory for legal documentation. This ensures transparency and fair dealings in property transactions.

Frequently asked questions

What is the current guideline value for Gandhi Nagar 1 To 3 Streets?

The current guideline value for Gandhi Nagar 1 To 3 Streets is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Gandhi Nagar 1 To 3 Streets?

The land classification for Gandhi Nagar 1 To 3 Streets is Mixed Type - II, which indicates a diverse use of land in the area.

What are the stamp duty and registration fees for properties in this area?

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.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Gandhi Nagar 1 To 3 Streets is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044. You can find more details by visiting the appropriate link.