Guideline Value for GANDHIJI 5TH STREET

Gandhiji 5th Street guideline value

The current guideline value of Gandhiji 5th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the Purasaivakkam SRO, with a land classification of Residential Class IV Type - I.

How the guideline value of Gandhiji 5th Street has changed

The guideline value for Gandhiji 5th Street has seen several revisions over the years. In 2003, the guideline value was Rs 420 per sq.ft, which increased to Rs 550 per sq.ft in 2007, marking a significant rise of 31%. By 2012, the value remained unchanged at Rs 2,000 per sq.ft, but from 2012 to 2023, there was no change in the value. The 2023 revision set the value at Rs 2,000 per sq.ft, which increased to Rs 2,200 per sq.ft in the 2024 revision, reflecting a 10% increase.

Overall, from 2003 to 2024, the guideline value has increased by 424%. The register has no figures for the years 2002 and 2017 for this street.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO carrying 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 Gandhiji 5th Street is below this median.

• Gandhiji 1st Street: Rs 2,200 per sq.ft (2024)
• 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 5th Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to 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, totaling Rs 1,98,000. Please note that the 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 Gandhiji 5th Street?

The Sub Registrar Office that covers Gandhiji 5th 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 is an essential factor during property transactions in Perambur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps determine the minimum value on which these fees are calculated. This ensures transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Gandhiji 5th Street?

The current guideline value of Gandhiji 5th 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, marking an overall increase of 424% over the years.

What are the other streets in Perambur with the same guideline value?

Other streets in Perambur with the same guideline value of Rs 2,200 per sq.ft include Gandhiji 1st, 2nd, 3rd, 4th, 6th, and 7th Streets.

Where can I find the registration office for Gandhiji 5th Street?

The registration office for Gandhiji 5th 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 5th Street?

Stamp duty for properties in Gandhiji 5th Street is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a stamp duty of Rs 1,54,000 based on the current guideline value.