Guideline Value for GANDHI NAGAR 2ND STREET (WARD -3)

Gandhi Nagar 2nd Street (Ward -3) guideline value

The current guideline value of Gandhi Nagar 2nd 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. The land classification for this area is Residential Class I Type - II.

How the guideline value of Gandhi Nagar 2nd Street (Ward -3) has changed

The guideline value for Gandhi Nagar 2nd Street has seen several revisions over the years. The 2012 revision set the value at Rs 900 per sq.ft, which then decreased to Rs 603 per sq.ft in the 2017 revision. However, this was followed by a significant increase to Rs 900 per sq.ft in the 2023 revision, and the current value is Rs 990 per sq.ft as per the 2024 revision. Notably, the register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. Subsequently, there was a substantial increase of 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Sattamangalam

Sattamangalam village has a total of 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 in this area is Rs 1,100 per sq.ft, placing Gandhi Nagar 2nd Street's 2024 figure below that median.

• Gandhi Nagar 3rd Street (Ward -3): Rs 990 per sq.ft (2024)
• Gandhi Nagar 1st Street (Ward -3): Rs 990 per sq.ft (2024)
• Gandhi Nagar 4th Street (Ward -3): Rs 990 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)
• Gandhi Nagar 7th Street (Ward -3): Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Nagar 2nd 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, the total cost for these fees would be Rs 89,100. It is important to note that 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 2nd Street (Ward -3)?

The Sub Registrar Office that covers Gandhi Nagar 2nd 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 Sattamangalam

The guideline value is a crucial factor when registering property transactions in Sattamangalam. It serves as a benchmark for determining the applicable stamp duty and registration fees, ensuring that the transaction is conducted fairly and transparently.

When buying or selling property, the guideline value helps in assessing the minimum value at which the property can be registered. This means that regardless of the sale price, the registration will be based on the guideline value if it is higher.

Frequently asked questions

What is the current guideline value of Gandhi Nagar 2nd Street?

The current guideline value of Gandhi Nagar 2nd 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 2nd Street?

The land classification for Gandhi Nagar 2nd Street (Ward -3) is Residential Class I Type - II.

Where can I find more information about stamp duty and registration fees?

You can find more information about stamp duty and registration fees using the stamp duty and registration fee calculator.

Which office handles registrations for Gandhi Nagar 2nd Street?

The Chengleput Joint II Sub Registrar Office handles registrations for Gandhi Nagar 2nd Street (Ward -3), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.