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 Sattamangalam 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 has seen several revisions over the years. In 2012, the value was Rs 900 per sq.ft, which then decreased to Rs 603 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, reaching Rs 900 per sq.ft. The most recent revision in 2024 set the value at Rs 990 per sq.ft, reflecting a 10% increase 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 seen a modest increase of 10%.

Guideline values in Sattamangalam

In Sattamangalam village, there are 425 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 for these streets is Rs 1,100 per sq.ft, placing Gandhi Nagar 1st Street's current value below this median.

• 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 440 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 guideline value of Rs 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty, charged at 7%, would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total cost for stamp duty and registration fees to Rs 89,100. It is important to note that the 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 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, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Sattamangalam. It serves as a benchmark for determining the applicable stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

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 increased 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?

Gandhi Nagar 1st Street is classified as Residential Class I Type - II.

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

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

How is the stamp duty calculated for property transactions?

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