Guideline Value for GANDHI NAGAR 2ND STREET

Gandhi Nagar 2nd Street guideline value

The current guideline value of Gandhi Nagar 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the Purasaivakkam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Gandhi Nagar 2nd Street has changed

The guideline value for Gandhi Nagar 2nd Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, which is a 10% increase from Rs 2,000 per sq.ft in 2023. Prior to that, the value was Rs 1,340 per sq.ft in 2017, marking a significant increase of 49% from that year to 2023. The value in 2012 was Rs 2,000 per sq.ft, which represents a decrease of 33% when compared to the 2017 figure. Overall, from 2012 to 2024, there has been a 10% increase.

The register has no figures for the years 2002, 2003, and 2007. Therefore, the first recorded value for this street is from 2012 at Rs 2,000 per sq.ft.

Guideline values in Perambur

In Perambur village, there are 1114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, indicating that Gandhi Nagar 2nd Street's 2024 figure is below this median.

• Gandhi Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Gandhi Nagar 1st To 8th Cross Street: Rs 2,200 per sq.ft (2024)
• Gandhi Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Gandhi Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Gandhi Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Gandhi Nagar 6th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gandhi Nagar 2nd Street?

The Sub Registrar Office that covers Gandhi Nagar 2nd Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process of property transactions in Perambur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher, which can significantly impact the overall cost of the transaction.

Frequently asked questions

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

The current guideline value of Gandhi Nagar 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, a 10% increase. It was Rs 1,340 per sq.ft in 2017 and Rs 2,000 per sq.ft in 2012.

What is the land classification for Gandhi Nagar 2nd Street?

Gandhi Nagar 2nd Street is classified as Residential Class IV Type - I, indicating its suitability for residential purposes.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where is the Sub Registrar Office for Gandhi Nagar 2nd Street located?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, and it covers Gandhi Nagar 2nd Street.