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 Sattamangalam village and falls 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

Over the years, the guideline value for Gandhi Nagar 3rd Street has seen several revisions. The 2012 revision set the value at Rs 900 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 603 per sq.ft. The value then increased to Rs 900 per sq.ft in the 2023 revision, and finally, it rose to Rs 990 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, followed by a significant increase of 49% from 2017 to 2023. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

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 village is Rs 1,100 per sq.ft, indicating that the 2024 guideline value for Gandhi Nagar 3rd Street is below this median.

• 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 guideline value of Rs 990 per sq.ft, the total 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, bringing the total cost for these fees to Rs 89,100. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

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. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Sattamangalam. It serves as a benchmark for determining the stamp duty and registration fees payable, ensuring that these costs are calculated based on a standardized value rather than fluctuating market prices.

When a property is sold, the buyer and seller must consider the guideline value to ensure compliance with legal requirements. The registration office uses this value to assess the appropriate fees, which helps maintain transparency and fairness in 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 increased to Rs 900 per sq.ft in 2023, and finally to Rs 990 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Gandhi Nagar 3rd Street?

The stamp duty is 7% and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 89,100 based on the current guideline value.

Which Sub Registrar Office covers Gandhi Nagar 3rd Street?

The Chengleput Joint II Sub Registrar Office covers Gandhi Nagar 3rd Street, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the land classification for Gandhi Nagar 3rd Street?

Gandhi Nagar 3rd Street is classified as Residential Class I Type - II under the Chengleput Joint II SRO.