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 Peramanoor village and falls under the Chengleput Joint II SRO, with a land classification of 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 earliest recorded revision is from 2012, where the guideline value was Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in 2017. The 2023 revision saw an increase to Rs 1,200 per sq.ft, and the latest revision in 2024 increased it further to Rs 1,320 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 reflects a 10% increase, highlighting the fluctuations in the guideline value over the years.

Guideline values in Peramanoor

In Peramanoor village, there are 430 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 2,200 per sq.ft, with a median value of Rs 1,100 per sq.ft. Gundalakesi Street's 2024 guideline value of Rs 1,320 per sq.ft is above this median.

• 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)
• Green Valley Nagar: Rs 990 per sq.ft (2024)
• Haripriya Nagar (N): Rs 661 per sq.ft (2024)
• Gopolapuram (Sa): Rs 550 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 rate of Rs 1,320 per sq.ft, the guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, 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, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Peramanoor, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory during the registration process.

When a buyer or seller engages in a transaction, the guideline value ensures that the property is registered at a fair value, reflecting the current market conditions as set by the local authorities. This process helps in maintaining transparency and accountability in property dealings.

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 seen various revisions: from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back 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, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, for a plot valued at Rs 13,20,000, the total fees would amount to Rs 1,18,800.

Where can I find the Sub Registrar Office for Gundalakesi Street?

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