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 Peramanoor village and falls under the Chengleput Joint II SRO with a land classification of 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 was then reduced to Rs 603 per sq.ft in the 2017 revision, marking a decrease of 33%. In the subsequent 2023 revision, the value increased to Rs 900 per sq.ft, and the latest 2024 revision has set it at Rs 990 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register does not provide figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Peramanoor

In Peramanoor, there are 430 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 550 to Rs 2,200 per sq.ft. The median value is Rs 1,100 per sq.ft, placing Gandhi Nagar 3rd Street's 2024 figure below this median.

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

For a 1,000 sq.ft plot at the current rate of Rs 990 per sq.ft, the guideline value amounts to Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, totaling Rs 89,100. 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 details on fees applicable to your property transaction.

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

The Sub Registrar Office that covers Gandhi Nagar 3rd 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 information.

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

The guideline value is a critical factor in property transactions in Peramanoor, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating the sale price, as the registration fees and stamp duties are calculated based on this figure.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

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

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 seen several revisions, with the most recent increase of 10% from Rs 900 per sq.ft in 2023 to Rs 990 per sq.ft in 2024. Over the years, it has fluctuated, with a notable decrease from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017.

What is the median guideline value in Peramanoor?

The median guideline value in Peramanoor is Rs 1,100 per sq.ft. Gandhi Nagar 3rd Street's 2024 figure of Rs 990 per sq.ft is below this median.

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

The stamp duty is charged at 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot at Rs 990 per sq.ft, the total fees would amount to Rs 89,100.

Which office handles registrations for Gandhi Nagar 3rd Street (Ward -3)?

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