Guideline Value for GANDHI NAGAR 4TH CROSS STREET

Gandhi Nagar 4th Cross Street guideline value

The current guideline value of Gandhi Nagar 4th Cross Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Palavakkam village under the Neelankarai SRO, classified as Residential Class IV Type - II.

How the guideline value of Gandhi Nagar 4th Cross Street has changed

Over the years, the guideline value of Gandhi Nagar 4th Cross Street has seen several revisions. The 2017 revision set the value at Rs 1,005 per sq.ft, which increased to Rs 1,500 per sq.ft in 2023. The latest revision in 2024 has raised the value further to Rs 1,700 per sq.ft, marking a 13% increase from the previous year. The change from 2017 to 2023 represents a significant increase of 49%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Prior to 2017, the guideline value was Rs 1,500 per sq.ft in 2012, which was a decrease of 33% from Rs 1,200 per sq.ft in 2007. Overall, from 2007 to 2024, the guideline value has increased by 42%.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, indicating that the guideline value of Gandhi Nagar 4th Cross Street is below this median.

• Gandhi Nagar 3rd Street: Rs 4,400 per sq.ft (2024)
• Gandhi Nagar 3rd Cross Street: Rs 1,700 per sq.ft (2024)
• Gandhi Nagar 2nd Street: Rs 4,400 per sq.ft (2024)
• Gandhi Nagar 2nd Cross Street: Rs 1,700 per sq.ft (2024)
• Gandhi Nagar 1st Street: Rs 4,400 per sq.ft (2024)
• Gandhi Nagar 1st Cross Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Nagar 4th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, while the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gandhi Nagar 4th Cross Street?

The Sub Registrar Office that covers Gandhi Nagar 4th Cross Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Chennai - 41. You can find your SRO for more information.

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

The guideline value is an essential factor when buying or selling property in Palavakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers should be aware that the guideline value can impact the overall costs associated with property transactions, including stamp duty and registration fees.

When a property is sold, the guideline value is used to calculate the applicable taxes and fees. It is crucial for both parties to understand this value to ensure compliance with local regulations and to avoid any potential disputes during the registration process.

Frequently asked questions

What is the current guideline value of Gandhi Nagar 4th Cross Street?

The current guideline value of Gandhi Nagar 4th Cross Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,005 per sq.ft in 2017 to Rs 1,500 per sq.ft in 2023, and now to Rs 1,700 per sq.ft in 2024. This represents significant increases over the years.

What is the land classification for Gandhi Nagar 4th Cross Street?

Gandhi Nagar 4th Cross Street is classified as Residential Class IV Type - II.

Where can I find the registration office for Gandhi Nagar 4th Cross Street?

The registration office for Gandhi Nagar 4th Cross Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Chennai - 41.

How is stamp duty calculated for properties in Gandhi Nagar 4th Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 1,19,000.