Guideline Value for GANDHIPURAM 3RD CROSS STREET

Gandhipuram 3rd Cross Street guideline value

The current guideline value of Gandhipuram 3rd Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Mambalam village and falls under the Thiyagaraya nagar SRO. The land classification for this area is Residential Class III Type - III.

How the guideline value of Gandhipuram 3rd Cross Street has changed

The guideline value for Gandhipuram 3rd Cross Street has seen several revisions over the years. The earliest recorded figure is from 2002, where the value was Rs 491 per sq.ft. This increased to Rs 545 per sq.ft in 2003, marking an 11% rise. The value then saw a significant increase to Rs 1,000 per sq.ft in 2007, which is a rise of 83%. In 2012, the value was Rs 4,000 per sq.ft, reflecting a substantial increase of 300% from the previous revision. However, it decreased to Rs 2,680 per sq.ft in 2017, a drop of 33%. The guideline value then rose to Rs 4,000 per sq.ft in 2023, and most recently, it has increased to Rs 4,400 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 796%. The register does not provide figures for any other years for this street.

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. The median value for these streets is Rs 6,600 per sq.ft, which means that the guideline value of Gandhipuram 3rd Cross Street is below this median.

• Gandhipuram 2 Cross Street: Rs 4,400 per sq.ft (2024)
• Gandhipuram 3 Street West To East: Rs 4,400 per sq.ft (2024)
• Gandhipuram 1 Cross Street: 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 3rd 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, making a total of Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Gandhipuram 3rd Cross Street?

The Sub Registrar Office that covers Gandhipuram 3rd 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 is a crucial factor in the registration process when buying or selling property in Mambalam. It serves as a reference point for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. These fees are typically based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Gandhipuram 3rd Cross Street?

The current guideline value of Gandhipuram 3rd 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 increased from Rs 491 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 796% over this period.

What is the land classification for Gandhipuram 3rd Cross Street?

The land classification for Gandhipuram 3rd Cross Street is Residential Class III Type - III.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Gandhipuram 3rd 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 3rd Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 44,00,000, the stamp duty at 7% would be Rs 3,08,000.