Guideline Value for Gandhi Cross Street

Gandhi Cross Street guideline value

The current guideline value of Gandhi Cross Street in Thiruneermalai village, under the Pammal SRO, is Rs 2,420 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Gandhi Cross Street has changed

The guideline value for Gandhi Cross Street has seen significant changes over the years. In the 2003 revision, the value was Rs 312 per sq.ft, which increased to Rs 350 per sq.ft in 2007. This was followed by a substantial rise to Rs 1,474 per sq.ft in 2017, marking a 321% increase from the previous revision. The 2023 revision set the value at Rs 2,200 per sq.ft, a 49% increase from 2017. The current value of Rs 2,420 per sq.ft, effective from 2024, reflects a 10% increase from the 2023 figure.

There are no registered figures for this street in the years 2002 and 2012. Overall, from 2003 to 2024, the guideline value has increased by 676%.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO carrying a 2024 guideline value, ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median value is Rs 2,420 per sq.ft, which is equal to the current guideline value of Gandhi Cross Street.

• Gandhi Street: Rs 2,420 per sq.ft (2024)
• Ganga Street: Rs 2,200 per sq.ft (2024)
• Errati Malai Srinivasan Street/ Thirumangaialwarpu: Rs 1,320 per sq.ft (2024)
• East Mada Veethi: Rs 2,200 per sq.ft (2024)
• East Kulakarai Street: Rs 2,200 per sq.ft (2024)
• Durga Nagar Vinoba Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value amounts to Rs 24,20,000. The stamp duty at 7% would be Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, bringing the total to Rs 2,17,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Gandhi Cross Street?

The Sub Registrar Office that covers Gandhi Cross Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the property registration process in Thiruneermalai. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must consider the guideline value to ensure compliance with local regulations and to accurately calculate the costs associated with property transactions.

When a property is registered, the guideline value is assessed to determine the applicable fees. This ensures that the transaction is recorded at a fair value, reflecting the current market conditions as indicated by the guideline values set by the registration department.

Frequently asked questions

What is the current guideline value of Gandhi Cross Street?

The current guideline value of Gandhi Cross Street is Rs 2,420 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 312 per sq.ft in 2003 to Rs 2,420 per sq.ft in 2024, marking an overall increase of 676% over this period.

What is the land classification for Gandhi Cross Street?

Gandhi Cross Street is classified under Residential Class I Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Gandhi Cross Street?

The Pammal Sub Registrar Office covers Gandhi Cross Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Gandhi Cross Street?

Stamp duty for properties in Gandhi Cross Street is calculated based on the guideline value or the sale price, whichever is higher. For instance, for a property valued at Rs 24,20,000, the stamp duty would be Rs 1,69,400 at 7%.