Guideline Value for GUNDALAKESI STREET (WARD -8)

Gundalakesi Street (Ward -8) guideline value

The current guideline value of Gundalakesi Street (Ward -8) is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Panangottur 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 has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was later revised to Rs 804 per sq.ft in 2017. This marked a decrease of 33%. However, from 2017 to 2023, the value saw a significant increase of 49%, reaching Rs 1,200 per sq.ft. The most recent revision in 2024 has further increased the value to Rs 1,320 per sq.ft, reflecting a 10% rise from the previous year.

It is important to note that there are no figures available for Gundalakesi Street in the revisions for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 990 per sq.ft, positioning Gundalakesi Street above this median value.

• Gunaveerar Street (Ward -6): Rs 1,320 per sq.ft (2024)
• Gulasekaraalwar Street (Ward -5): Rs 1,320 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 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty, charged at 7%, would be Rs 92,400, and the registration fee, at 2%, would be Rs 26,400. Together, the total cost for these fees would be Rs 1,18,800. 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 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 Panangottur

The guideline value plays a crucial role in property transactions in Panangottur. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction. Buyers need to be aware of the current guideline value to accurately estimate these costs.

During the registration process, the guideline value is compared with the sale price of the property. The higher of the two values is used to calculate the stamp duty and registration fees, ensuring compliance with local regulations.

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 1,320 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 1,320 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.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for properties in Gundalakesi Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, on a property with a guideline value of Rs 13,20,000, the stamp duty would be Rs 92,400 at a rate of 7%.