Guideline Value for GANDHIJI 3RD STREET

Gandhiji 3rd Street guideline value

The current guideline value of Gandhiji 3rd 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 Gandhiji 3rd Street has changed

Over the years, the guideline value of Gandhiji 3rd Street has seen several revisions. In 2003, the guideline value was Rs 420 per sq.ft, which increased to Rs 550 per sq.ft in 2007. The value then jumped significantly to Rs 2,000 per sq.ft in 2012, but dropped to Rs 1,340 per sq.ft in 2017. The value rose to Rs 2,000 per sq.ft again in 2023 and is now Rs 2,200 per sq.ft in 2024. The register has no figure for this street in 2002.

From 2017 to 2023, there was a notable increase of 49%. The 2023 to 2024 revision reflects a 10% increase. The 2012 to 2017 period saw a decline of 33%, while the 2007 to 2012 period experienced a substantial increase of 264%. Overall, from 2003 to 2024, the guideline value has increased by 424%.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO with a 2024 guideline value range from Rs 1,600 to Rs 7,100 per sq.ft. The median value is Rs 2,700 per sq.ft, placing the 2024 guideline value of Gandhiji 3rd Street below this median.

• Gandhiji 2nd Street: Rs 2,200 per sq.ft (2024)
• Gandhiji 4th Street: Rs 2,200 per sq.ft (2024)
• Gandhiji 1st 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 3rd Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 22,00,000. The stamp duty 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. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Gandhiji 3rd Street?

The Sub Registrar Office that covers Gandhiji 3rd 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 plays a crucial role during the registration of property transactions in Perambur. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property.

When a property is sold, the guideline value serves as a benchmark for the transaction, ensuring that the value is in accordance with the official rates set by the Registration Department. This helps maintain transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Gandhiji 3rd Street?

The current guideline value of Gandhiji 3rd 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 this period.

What is the role of the guideline value in property transactions?

The guideline value is used to calculate the stamp duty and registration fees for property transactions, ensuring that the transaction values align with the official rates set by the Registration Department.

Where is the Sub Registrar Office for Gandhiji 3rd Street located?

The Sub Registrar Office for Gandhiji 3rd Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What are the guideline values for other streets in Perambur?

Other streets in Perambur under the Purasaivakkam SRO have a guideline value range from Rs 1,600 to Rs 7,100 per sq.ft, with the median being Rs 2,700 per sq.ft.