Guideline Value for GANDHIJI 1ST STREET

Gandhiji 1st Street guideline value

The current guideline value of Gandhiji 1st 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 Gandhiji 1st Street has changed

The guideline value of Gandhiji 1st Street has undergone several revisions over the years. The earliest recorded revision was in 2003, with a guideline value of Rs 420 per sq.ft. This figure increased to Rs 550 per sq.ft in 2007, representing a 31% rise. The value then saw a significant jump to Rs 2,000 per sq.ft in 2012, marking a 264% increase. However, it decreased to Rs 1,340 per sq.ft in 2017, reflecting a decline of 33%. The value was revised again to Rs 2,000 per sq.ft in 2023, and it has now reached Rs 2,200 per sq.ft in 2024, which is a 10% increase from the previous year.

It is important to note that the register has no figure for the year 2002 for this street. Overall, from 2003 to 2024, the guideline value has increased by 424%.

Guideline values in Perambur

In Perambur village, there are 1,114 streets under the Purasaivakkam SRO that have a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, placing the guideline value of Gandhiji 1st Street below this median.

• Gandhiji 2nd Street: Rs 2,200 per sq.ft (2024)
• Gandhiji 3rd Street: Rs 2,200 per sq.ft (2024)
• Gandhiji 4th Street: Rs 2,200 per sq.ft (2024)
• Gandhiji 5th Street: Rs 2,200 per sq.ft (2024)
• Gandhiji 6th Street: Rs 2,200 per sq.ft (2024)
• Gandhiji 7th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhiji 1st 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. Together, the total cost for stamp duty and registration fees would be 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 detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gandhiji 1st Street?

The Sub Registrar Office that covers Gandhiji 1st 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

When buying or selling property in Perambur, the guideline value is a crucial factor in determining the stamp duty and registration fees. The guideline value serves as a benchmark for property transactions and is used to calculate the applicable taxes during the registration process.

It is essential for buyers and sellers to be aware of the guideline value as it can influence the overall cost of the transaction. Accurate knowledge of the guideline value ensures that both parties comply with the legal requirements during the sale or purchase of property.

Frequently asked questions

What is the current guideline value of Gandhiji 1st Street?

The current guideline value of Gandhiji 1st 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 420 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 424% over the years.

What is the land classification for Gandhiji 1st Street?

Gandhiji 1st Street is classified as Residential Class IV Type - I.

Where can I find the Sub Registrar Office for Gandhiji 1st Street?

The Sub Registrar Office for Gandhiji 1st 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 Gandhiji 1st Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 2,200 per sq.ft, the stamp duty would be Rs 1,54,000.