Guideline Value for GANDHIJI 6TH STREET

Gandhiji 6th Street guideline value

The current guideline value of Gandhiji 6th 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 6th Street has changed

The guideline value for Gandhiji 6th Street has seen several revisions over the years. In 2003, the value was Rs 420 per sq.ft, which increased to Rs 550 per sq.ft in 2007, marking a significant rise of 31%. The value then jumped substantially to Rs 2,000 per sq.ft in 2012, reflecting an increase of 264%. The value remained unchanged at Rs 2,000 per sq.ft until the next revision in 2023, when it was raised to Rs 2,000 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, a 10% increase from the previous year.

It is important to note that there are no figures available for Gandhiji 6th Street for the years 2002 and 2017. Overall, the guideline value has increased by 424% from 2003 to 2024.

Guideline values in Perambur

In Perambur village, there are 1,114 streets under the Purasaivakkam SRO that carry a guideline value for 2024, 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, which means that Gandhiji 6th Street's 2024 value is below the median.

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

Stamp duty and registration fee for property in Gandhiji 6th 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 be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost to Rs 1,98,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gandhiji 6th Street?

The Sub Registrar Office that covers Gandhiji 6th Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Perambur. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps in establishing a fair transaction price. Buyers should be aware that the stamp duty is calculated on the higher of the guideline value or the sale price, ensuring that the government receives the correct amount regardless of the market conditions.

Frequently asked questions

What is the current guideline value of Gandhiji 6th Street?

The current guideline value of Gandhiji 6th 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 increased from Rs 420 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, reflecting a total increase of 424% over the years.

What is the median guideline value for streets in Perambur?

The median guideline value for streets in Perambur is Rs 2,700 per sq.ft, which is higher than the current value of Gandhiji 6th Street.

What are the stamp duty and registration fees for property in Gandhiji 6th Street?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft property, the total cost would be Rs 1,98,000.

Which office handles registrations for Gandhiji 6th Street?

The Purasaivakkam Sub Registrar Office handles registrations for Gandhiji 6th Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.