Guideline Value for GANDHIPURAM 2 CROSS STREET

Gandhipuram 2 Cross Street guideline value

The current guideline value of Gandhipuram 2 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 Sub Registrar Office (SRO). The land classification for this area is Residential Class III Type - III.

How the guideline value of Gandhipuram 2 Cross Street has changed

The guideline value for Gandhipuram 2 Cross Street has seen several revisions over the years. In 2002, the guideline value was Rs 491 per sq.ft, which increased to Rs 545 per sq.ft in 2003, marking an 11% rise. The value continued to rise, reaching Rs 1,000 per sq.ft in 2007, a significant increase of 83%. By 2012, the value was recorded at Rs 4,000 per sq.ft, reflecting a 300% increase since the previous revision. However, this figure dropped to Rs 2,680 per sq.ft in 2017, showing a decrease of 33%.

In 2023, the guideline value increased to Rs 4,000 per sq.ft, and then further rose to Rs 4,400 per sq.ft in 2024, representing a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 796%. There are no figures available for the revisions in years not listed above.

Guideline values in Mambalam

In Mambalam, there are 163 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 22,000 per sq.ft, with the median value being Rs 6,600 per sq.ft. The guideline value for Gandhipuram 2 Cross Street is below this median.

• Gandhipuram 1 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 2 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 amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that 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 Gandhipuram 2 Cross Street?

The Sub Registrar Office that covers Gandhipuram 2 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 more information.

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

The guideline value plays a crucial role during the registration of property transactions in Mambalam. It serves as a benchmark for determining the minimum value of a property, ensuring that the registration is based on a fair assessment of the property's worth.

When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees that need to be paid. This ensures that all transactions are recorded accurately and transparently, in accordance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Gandhipuram 2 Cross Street?

The current guideline value of Gandhipuram 2 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 from Rs 491 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 796% over the years.

What is the land classification for Gandhipuram 2 Cross Street?

The land classification for Gandhipuram 2 Cross Street is Residential Class III Type - III.

Where can I find the Sub Registrar Office for Gandhipuram 2 Cross Street?

The Sub Registrar Office for Gandhipuram 2 Cross Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

How is the stamp duty calculated for properties in Gandhipuram 2 Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 3,08,000.