Guideline Value for GANDHI NAGAR 3RD STREET (WARD -3)

Gandhi Nagar 3rd Street (Ward -3) guideline value

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

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

The guideline value for Gandhi Nagar 3rd 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, the 2023 revision increased it to Rs 900 per sq.ft again, and the most recent 2024 revision raised it to Rs 990 per sq.ft, marking a 10% increase from the previous year.

In summary, from 2012 to 2017, the value decreased by 33%, but from 2017 to 2023, it increased by 49%. Overall, the guideline value has increased by 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 a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median value is Rs 990 per sq.ft, which is equal to the 2024 guideline value of Gandhi Nagar 3rd Street.

• Gandhi Nagar 4th Street (Ward -3): Rs 990 per sq.ft (2024)
• Gandhi Nagar 2nd 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)
• Gandhi Nagar 1st Street (Ward -3): Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Nagar 3rd 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, and the registration fee at 2% would be Rs 19,800, totaling Rs 89,100. Please note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office covering Gandhi Nagar 3rd 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 further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Panangottur. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the buyer must pay the applicable stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Gandhi Nagar 3rd Street?

The current guideline value of Gandhi Nagar 3rd 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 3rd Street?

Gandhi Nagar 3rd Street is classified as Residential Class I Type - II.

Where can I find the Chengleput Joint II SRO?

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 properties in this area?

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, the guideline value is Rs 9,90,000, leading to a stamp duty of Rs 69,300 at 7%.