Guideline Value for GUNDALAKESI STREET (WARD -8)

Gundalakesi Street (Ward -8) guideline value

The current guideline value of Gundalakesi Street (Ward -8) is Rs 1,321 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - V.

How the guideline value of Gundalakesi Street (Ward -8) has changed

The guideline value for Gundalakesi Street (Ward -8) has seen several revisions over the years. In 2012, the guideline value was Rs 1,200 per sq.ft. This value decreased to Rs 804 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,200 per sq.ft, representing a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 1,321 per sq.ft, which is a 10% increase from the previous year.

It is important to note that the register has no figures for Gundalakesi Street for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

Guideline values in Ninna Karai

In Ninna Karai, there are 449 streets under the Chengleput Joint II SRO that have a 2024 guideline value ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, placing Gundalakesi Street's 2024 value above the median.

• Gunaveerar Street (Ward -6): Rs 1,321 per sq.ft (2024)
• Gulasekaraalwar Street (Ward -5): Rs 1,321 per sq.ft (2024)
• G.S.T. Road (Ward -18): Rs 2,200 per sq.ft (2024)
• Haripriya Nagar (N): Rs 660 per sq.ft (2024)
• Gopolapuram (Sa): Rs 440 per sq.ft (2024)
• Gopola Krishnan Nagar (Kr): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Gundalakesi Street (Ward -8)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,321 per sq.ft, the total guideline value would be Rs 13,21,000. The stamp duty at 7% would amount to Rs 92,470, while the registration fee at 2% would be Rs 26,420, making the total charges Rs 1,18,890. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gundalakesi Street (Ward -8)?

The Sub Registrar Office that covers Gundalakesi Street (Ward -8) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Ninna Karai. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and that all legal obligations are met, protecting both parties involved in the sale.

Frequently asked questions

What is the current guideline value of Gundalakesi Street (Ward -8)?

The current guideline value of Gundalakesi Street (Ward -8) is Rs 1,321 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,321 per sq.ft in 2024.

What is the land classification for Gundalakesi Street?

The land classification for Gundalakesi Street (Ward -8) is Residential Special Type - V.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 13,21,000, the stamp duty would be Rs 92,470 and the registration fee would be Rs 26,420, totaling Rs 1,18,890.

Which office handles registrations for Gundalakesi Street?

The Chengleput Joint II Sub Registrar Office handles registrations for Gundalakesi Street (Ward -8), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.