Guideline Value for GANDHI NAGAR CROSS STREET

Gandhi Nagar Cross Street guideline value

The current guideline value of Gandhi Nagar Cross Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Gandhi Nagar Cross Street has changed

Over the years, the guideline value of Gandhi Nagar Cross Street has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in the 2017 revision. However, the value rebounded significantly in the 2023 revision to Rs 1,200 per sq.ft, before increasing again to Rs 1,320 per sq.ft in the 2024 revision. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2017 to 2023, there was a remarkable increase of 49%, followed by a 10% increase from 2023 to 2024. Overall, the guideline value has increased by 10% from the 2012 revision to the 2024 revision.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which means the guideline value of Gandhi Nagar Cross Street is below this median.

• Gandhi Nagar Pilliar Kovil 1st Street: Rs 1,110 per sq.ft (2024)
• Gandhi Nagar Pilliar Kovil 2nd Street: Rs 1,110 per sq.ft (2024)
• Gandhi Nagar Pilliyarkoil 1st Street: Rs 1,110 per sq.ft (2024)
• Gandhi Nagar Pilliyarkoil 2nd Street: Rs 1,110 per sq.ft (2024)
• Gandhi Street: Rs 1,320 per sq.ft (2024)
• Gandhi Cross Street Extn: Rs 1,320 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400. Together, the total cost for stamp duty and registration fee would be Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gandhi Nagar Cross Street?

The Sub Registrar Office that covers Gandhi Nagar Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum price at which a property can be registered in Pallikaranai. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration norms.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the actual sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Gandhi Nagar Cross Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Gandhi Nagar Cross Street?

The land classification for Gandhi Nagar Cross Street is Residential Class IV Type - II.

Where can I find the Sub Registrar Office for Gandhi Nagar Cross Street?

The Sub Registrar Office for Gandhi Nagar Cross Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How do stamp duty and registration fees work in property transactions?

Stamp duty and registration fees are calculated based on the guideline value or the actual sale price, whichever is higher. This ensures that the appropriate fees are collected during the registration of property transactions in Pallikaranai.