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 Sattamangalam 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

Over the years, the guideline value of Gundalakesi Street has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which was followed by a decrease to Rs 804 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 1,200 per sq.ft, marking a 49% rise. The most recent 2024 revision has further increased the value to Rs 1,320 per sq.ft, 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, the guideline value has increased by 10%.

Guideline values in Sattamangalam

In Sattamangalam village, there are 425 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft. The median value is Rs 1,100 per sq.ft, placing Gundalakesi Street's 2024 figure 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)
• Haripriya Nagar (N): Rs 660 per sq.ft (2024)
• Gopolapuram (Sa): Rs 660 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 at 7% would be Rs 92,400, while the registration fee at 2% would be Rs 26,400. The total cost for these fees would be Rs 1,18,800. It is important to note that 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 details.

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 Sattamangalam

The guideline value plays a crucial role in the registration process for property transactions in Sattamangalam. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are calculated based on the official value set by the government.

It is essential for buyers and sellers to be aware of the guideline value as it directly impacts the overall cost of the transaction. Understanding the guideline value can help in making informed decisions during the buying or selling process.

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 2023 to Rs 1,320 per sq.ft in 2024. It was Rs 804 per sq.ft in 2017 and Rs 1,200 per sq.ft in 2012.

What is the land classification for Gundalakesi Street?

Gundalakesi Street (Ward -8) is classified as Residential Special Type - V.

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

The Sub Registrar Office for Gundalakesi Street is the Chengleput Joint II Sub Registrar Office, 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 guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate has a guideline value of Rs 13,20,000, leading to specific stamp duty and registration fees.