Guideline Value for GANDHI NAGAR 7TH STREET

Gandhi Nagar 7th Street guideline value

The current guideline value of Gandhi Nagar 7th 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 7th Street has changed

The guideline value for Gandhi Nagar 7th Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in 2017. Following this, the 2023 revision increased the value to Rs 2,000 per sq.ft, and the latest 2024 revision raised it further to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. 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 Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO carrying a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value for Gandhi Nagar 7th Street is below this median.

• Gandhi Nagar 8th Street: Rs 2,200 per sq.ft (2024)
• Gandhi Nagar 9th Street: Rs 2,200 per sq.ft (2024)
• Gandhi Nagar 6th Street: Rs 2,200 per sq.ft (2024)
• Gandhi Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Gandhi Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Gandhi Nagar 3rd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Nagar 7th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to 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 detailed calculations.

Which Sub Registrar Office covers Gandhi Nagar 7th Street?

The Sub Registrar Office that covers Gandhi Nagar 7th 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 a crucial factor in the registration process when buying or selling property in Perambur. It serves as a reference point for calculating stamp duty and registration fees, which are mandatory during the registration of property transactions.

When a buyer or seller approaches the registration office, the guideline value will be used to determine the applicable fees based on the property’s size and the prevailing rate per sq.ft. This ensures that all transactions are conducted fairly and in accordance with the established values.

Frequently asked questions

What is the current guideline value of Gandhi Nagar 7th Street?

The current guideline value of Gandhi Nagar 7th 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 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Gandhi Nagar 7th Street?

Gandhi Nagar 7th Street is classified as Residential Class IV Type - I.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office covering Gandhi Nagar 7th Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the stamp duty calculated for properties in Gandhi Nagar 7th Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at a rate of 7%.