Guideline Value for GANDHI NAGAR 8TH STREET

Gandhi Nagar 8th Street guideline value

The current guideline value of Gandhi Nagar 8th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, classified as Residential Class IV Type - I.

How the guideline value of Gandhi Nagar 8th Street has changed

The guideline value for Gandhi Nagar 8th Street has undergone several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 2,000 per sq.ft. Prior to that, the 2017 revision recorded a value of Rs 1,340 per sq.ft, marking a significant increase of 49% over the 2023 figure. The 2012 revision also had a value of Rs 2,000 per sq.ft, which was a decrease of 33% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 10%.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. This lack of data indicates that there were no recorded guideline values for those years.

Guideline values in Perambur

In Perambur village, there are 1,114 streets under the Purasaivakkam SRO that carry 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 of Rs 2,200 per sq.ft for Gandhi Nagar 8th Street is below this median.

• Gandhi Nagar 9th Street: Rs 2,200 per sq.ft (2024)
• Gandhi Nagar 7th 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 8th Street

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

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gandhi Nagar 8th Street?

The Sub Registrar Office that covers Gandhi Nagar 8th Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Perambur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential costs associated with the transfer of property ownership. This ensures that all parties involved are aware of the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of Gandhi Nagar 8th Street?

The current guideline value of Gandhi Nagar 8th 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 seen several revisions: from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, and from Rs 1,340 per sq.ft in 2017 to Rs 2,000 per sq.ft in 2012. Overall, the value has increased by 10% from 2012 to 2024.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office handles transactions for Gandhi Nagar 8th Street?

The Purasaivakkam Sub Registrar Office handles transactions for Gandhi Nagar 8th Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification of Gandhi Nagar 8th Street?

Gandhi Nagar 8th Street is classified as Residential Class IV Type - I, indicating its designation for residential use.