Guideline Value for GANDHI NAGAR PILLIYARKOIL 2ND STREET

Gandhi Nagar Pilliyarkoil 2nd Street guideline value

The current guideline value of Gandhi Nagar Pilliyarkoil 2nd Street is Rs 1,110 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 - III.

How the guideline value of Gandhi Nagar Pilliyarkoil 2nd Street has changed

The guideline value for Gandhi Nagar Pilliyarkoil 2nd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which then decreased to Rs 670 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,000 per sq.ft in the 2023 revision, and currently stands at Rs 1,110 per sq.ft as per the 2024 revision. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to the current 2024 figure reflects an increase of 11%.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO that carry a guideline value for 2024, ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, indicating that the 2024 figure for Gandhi Nagar Pilliyarkoil 2nd Street is below this median.

• Gandhi Nagar Pilliyarkoil 1st Street: Rs 1,110 per sq.ft (2024)
• Gandhi Nagar Pilliar Kovil 2nd Street: Rs 1,110 per sq.ft (2024)
• Gandhi Nagar Pilliar Kovil 1st Street: Rs 1,110 per sq.ft (2024)
• Gandhi Nagar Cross Street: Rs 1,320 per sq.ft (2024)
• Gandhi Street: Rs 1,320 per sq.ft (2024)
• Ganesan Avenue: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Nagar Pilliyarkoil 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,110 per sq.ft, the total guideline value would be Rs 11,10,000. The stamp duty at 7% would amount to Rs 77,700, while the registration fee at 2% would be Rs 22,200, bringing the total to Rs 99,900. It is important to note that 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 Pilliyarkoil 2nd Street?

The Sub Registrar Office that covers Gandhi Nagar Pilliyarkoil 2nd 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 the registration process when buying or selling property in Pallikaranai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Gandhi Nagar Pilliyarkoil 2nd Street?

The current guideline value of Gandhi Nagar Pilliyarkoil 2nd Street is Rs 1,110 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,110 per sq.ft in 2024.

What is the land classification for this street?

The land classification for Gandhi Nagar Pilliyarkoil 2nd Street is Residential Class IV Type - III.

Where can I find the registration office for this area?

The registration office for Gandhi Nagar Pilliyarkoil 2nd 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.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 11,10,000, the stamp duty at 7% would be Rs 77,700.