Guideline Value for Gandhi Cross Street(Iyappan nagar)

Gandhi Cross Street(Iyappan nagar) guideline value

The current guideline value of Gandhi Cross Street(Iyappan nagar) is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Ayappakkam village under the Ambattur SRO, classified as Residential Special Type - II.

How the guideline value of Gandhi Cross Street(Iyappan nagar) has changed

The guideline value for Gandhi Cross Street(Iyappan nagar) has seen significant changes over the years. In the 2007 revision, the value was Rs 400 per sq.ft, which increased to Rs 1,600 per sq.ft in 2012, marking a substantial rise of 300%. However, from 2012 to 2017, the value decreased to Rs 1,072 per sq.ft, reflecting a decline of 33%. The value then rose sharply to Rs 1,600 per sq.ft in 2023, and in the latest 2024 revision, it stands at Rs 1,700 per sq.ft, an increase of 6% from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 325%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO, with 2024 guideline values ranging from Rs 550 to Rs 4,000 per sq.ft. The median value is Rs 1,300 per sq.ft, placing Gandhi Cross Street(Iyappan nagar) above this median at Rs 1,700 per sq.ft.

• Ganapathi Street(ganapathi nagar): Rs 880 per sq.ft (2024)
• Gandhi street (Iyappan nagar): Rs 1,700 per sq.ft (2024)
• Ezhil nagar 7th street(Ezhil nagar): Rs 1,300 per sq.ft (2024)
• Ezhil nagar 6th street(Ezhil nagar): Rs 1,300 per sq.ft (2024)
• Ezhil nagar 5th street(Ezhil nagar): Rs 1,300 per sq.ft (2024)
• Ezhil nagar 4th street(Ezhil nagar): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Cross Street(Iyappan nagar)

For a 1,000 sq.ft plot at the current rate of Rs 1,700 per sq.ft, the guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, while the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gandhi Cross Street(Iyappan nagar)?

The Sub Registrar Office that covers Gandhi Cross Street(Iyappan nagar) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Ayappakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is essential for calculating the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can significantly affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Gandhi Cross Street(Iyappan nagar)?

The current guideline value of Gandhi Cross Street(Iyappan nagar) is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 325% over the years.

What is the land classification for Gandhi Cross Street(Iyappan nagar)?

Gandhi Cross Street(Iyappan nagar) is classified as Residential Special Type - II.

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

The Sub Registrar Office covering Gandhi Cross Street(Iyappan nagar) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone.

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 1,000 sq.ft plot, the total fees would amount to Rs 1,53,000 based on the current guideline value.