Guideline Value for GANDHIPURAM 1 CROSS STREET

Gandhipuram 1 Cross Street guideline value

The current guideline value of Gandhipuram 1 Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Mambalam village, under the Thiyagaraya nagar SRO, and is classified as Residential Class III Type - III.

How the guideline value of Gandhipuram 1 Cross Street has changed

The guideline value for Gandhipuram 1 Cross Street has seen several revisions over the years. In 2002, the value was Rs 491 per sq.ft, which increased to Rs 545 per sq.ft in 2003. The value then rose significantly to Rs 1,000 per sq.ft in 2007, followed by a notable jump to Rs 4,000 per sq.ft in 2012. However, it decreased to Rs 2,680 per sq.ft in 2017. The value rebounded to Rs 4,000 per sq.ft in 2023 and is currently at Rs 4,400 per sq.ft as of the 2024 revision.

From 2017 to 2023, there was a significant increase of 49%, and from 2023 to 2024, the value rose by 10%. The largest increase occurred between 2007 and 2012, where the value surged by 300%. Overall, from 2002 to 2024, the guideline value has increased by 796%. There are no figures available for any revisions prior to 2002 or for other years not listed.

Guideline values in Mambalam

Mambalam village has a total of 163 streets under the Thiyagaraya nagar SRO, with guideline values ranging from Rs 4,400 to Rs 22,000 per sq.ft. The median value for these streets is Rs 6,600 per sq.ft, indicating that the 2024 guideline value for Gandhipuram 1 Cross Street is below this median.

• Gandhipuram 2 Cross Street: Rs 4,400 per sq.ft (2024)
• Gandhipuram 3rd Cross Street: Rs 4,400 per sq.ft (2024)
• Gandhipuram 3 Street West To East: Rs 4,400 per sq.ft (2024)
• Gandhi Street: Rs 7,700 per sq.ft (2024)
• Gandhi Street 2 Lane: Rs 4,400 per sq.ft (2024)
• Gandhi Street Western Side Easwaran Koil Street East To West: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhipuram 1 Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, resulting in a total of Rs 3,96,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gandhipuram 1 Cross Street?

The Sub Registrar Office that covers Gandhipuram 1 Cross Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for additional details.

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

The guideline value is a crucial factor when buying or selling property in Mambalam, as it determines the minimum value at which a property can be registered. Buyers must be aware that the stamp duty and registration fees are calculated based on this guideline value or the sale price, whichever is higher.

During the registration process, the guideline value ensures that the transaction is recorded at a fair price, which helps in maintaining transparency in property dealings. It is important for buyers and sellers to understand these values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Gandhipuram 1 Cross Street?

The current guideline value of Gandhipuram 1 Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 491 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, representing an overall increase of 796%.

What is the land classification for Gandhipuram 1 Cross Street?

Gandhipuram 1 Cross Street is classified as Residential Class III Type - III.

What are the stamp duty and registration fees for a property in Gandhipuram 1 Cross Street?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Where is the Sub Registrar Office for Gandhipuram 1 Cross Street located?

The Thiyagaraya nagar Sub Registrar Office is located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.