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 Zaminpallavaram village, under the Pallavaram SRO, and is classified as Residential Class I Type - II.

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

Over the years, the guideline value for Gandhi Nagar 1 To 3 Streets has seen several revisions. In 2012, the guideline value was Rs 3,000 per sq.ft. This figure remained unchanged until 2017, when it dropped to Rs 2,010 per sq.ft, marking a decrease of 33%. The value then increased significantly to Rs 3,000 per sq.ft in 2023, before rising again to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are a total of 638 streets under the Pallavaram SRO, with the 2024 guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which is the same as the current value for Gandhi Nagar 1 To 3 Streets.

• Gandhi Nagar: Rs 3,300 per sq.ft (2024)
• Gandhiamman Koil Street: Rs 2,160 per sq.ft (2024)
• Ganashpriyan Avenue: Rs 2,160 per sq.ft (2024)
• Ganapathypuram Extention 2nd Cross Street: Rs 3,850 per sq.ft (2024)
• Gandhi Nagar Mc Nagar: Rs 3,300 per sq.ft (2024)
• Ganapathipuram Main Road: Rs 3,850 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, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

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, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Zaminpallavaram. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers should be aware that the duty is charged based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

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 much 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 increased 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 Residential Class I Type - II.

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, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Gandhi Nagar 1 To 3 Streets?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000.