Guideline Value for GANDHI NAGAR 1ST STREET (WARD -3)

Gandhi Nagar 1st Street (Ward -3) guideline value

The current guideline value of Gandhi Nagar 1st Street (Ward -3) is Rs 990 per sq.ft, effective from 1 July 2024. This street is located in Panangottur village and falls under the Chengleput Joint II SRO, classified as Residential Class I Type - II.

How the guideline value of Gandhi Nagar 1st Street (Ward -3) has changed

The guideline value for Gandhi Nagar 1st Street (Ward -3) has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 900 per sq.ft. This was followed by a decrease to Rs 603 per sq.ft in the 2017 revision. The 2023 revision saw an increase to Rs 900 per sq.ft, and the latest revision in 2024 has raised it further to Rs 990 per sq.ft.

Between the revisions, there have been notable changes. From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, it increased significantly by 49%. The change from 2023 to 2024 reflects a 10% increase, resulting in an overall increase of 10% from 2012 to 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value is Rs 990 per sq.ft, which is equal to the 2024 figure for Gandhi Nagar 1st Street (Ward -3).

• Gandhi Nagar 2nd Street (Ward -3): Rs 990 per sq.ft (2024)
• Gandhi Nagar 3rd Street (Ward -3): Rs 990 per sq.ft (2024)
• Gandhi Nagar 4th Street (Ward -3): Rs 990 per sq.ft (2024)
• Ganapathy Syndicate(Pa): Rs 660 per sq.ft (2024)
• Gandhi Nagar 5th Street (Ward -3): Rs 990 per sq.ft (2024)
• Gandhi Nagar 6th Street (Ward -3): Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Nagar 1st Street (Ward -3)

For a 1,000 sq.ft plot at the current rate of Rs 990 per sq.ft, the guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, while the registration fee at 2% would be Rs 19,800. Together, these fees would total Rs 89,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gandhi Nagar 1st Street (Ward -3)?

The Sub Registrar Office that covers Gandhi Nagar 1st Street (Ward -3) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Panangottur. It serves as a reference point for determining the minimum value at which properties can be sold or purchased, ensuring transparency in the transaction process.

When you buy or sell property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legal ownership transfer. This ensures that all property transactions are documented and taxed appropriately.

Frequently asked questions

What is the current guideline value of Gandhi Nagar 1st Street (Ward -3)?

The current guideline value of Gandhi Nagar 1st Street (Ward -3) is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then back to Rs 900 per sq.ft in 2023, and finally to Rs 990 per sq.ft in 2024.

What is the land classification for Gandhi Nagar 1st Street (Ward -3)?

Gandhi Nagar 1st Street (Ward -3) is classified as Residential Class I Type - II.

Which office handles registrations for properties in Panangottur?

The Chengleput Joint II Sub Registrar Office handles registrations for properties in Panangottur, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For instance, for a 1,000 sq.ft plot at Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000.