Guideline Value for GANDHIJI CROSS STREET

Gandhiji Cross Street guideline value

The current guideline value of Gandhiji Cross Street is Rs 2,200 per sq.ft. 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 Cross Street has changed

The guideline value for Gandhiji Cross Street has undergone several revisions over the years. In 2002, the guideline value was Rs 336 per sq.ft, which increased to Rs 420 per sq.ft in 2003, marking a 25% rise. The value saw a further increase to Rs 550 per sq.ft in 2007, representing a 31% change. By 2012, the guideline value reached Rs 2,000 per sq.ft, reflecting a significant 264% increase from 2007. However, it then decreased to Rs 1,340 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 2,000 per sq.ft in 2023, and finally, in 2024, it stands at Rs 2,200 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 555%. There are no figures available for the revisions in years other than those listed.

Guideline values in Perambur

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

• Gandhiji Main Street: Rs 2,200 per sq.ft (2024)
• Gandhiji 7th Street: Rs 2,200 per sq.ft (2024)
• Gandhiji 6th Street: Rs 2,200 per sq.ft (2024)
• Gandhiji 5th 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)

Stamp duty and registration fee for property in Gandhiji Cross 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, bringing the total to 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gandhiji Cross Street?

The Sub Registrar Office that covers Gandhiji Cross 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 in the registration of property transactions in Perambur. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees. This ensures that the transaction is recorded at a value that is consistent with the prevailing rates in the area.

During the registration process, the buyer must pay the stamp duty based on the higher value between the guideline value and the sale price. This process helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Gandhiji Cross Street?

The current guideline value of Gandhiji Cross 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 336 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, showing an overall increase of 555% across the years.

What are the stamp duty rates applicable to properties in Gandhiji Cross Street?

The stamp duty for properties in Gandhiji Cross Street is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

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

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

What is the role of guideline value in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It ensures that the transaction is recorded at a value consistent with the prevailing rates in the area.