Guideline Value for Gandhi Nagar 4th Street

Gandhi Nagar 4th Street guideline value

The current guideline value of Gandhi Nagar 4th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the Virugambakkam SRO, and falls under the Residential Class II Type - II land classification.

How the guideline value of Gandhi Nagar 4th Street has changed

The guideline value for Gandhi Nagar 4th Street has undergone several revisions over the years. In 2002, the guideline value was Rs 472 per sq.ft, which increased to Rs 513 per sq.ft in 2003, marking a 9% rise. By 2007, the value surged to Rs 650 per sq.ft, reflecting a 27% increase. The value then saw a significant jump to Rs 3,000 per sq.ft in 2012, which was a 362% increase from the previous revision. However, in 2017, the value decreased to Rs 2,010 per sq.ft, representing a decline of 33%. The latest revision in 2024 has set the guideline value at Rs 3,300 per sq.ft, which is a 64% increase from 2017.

It is important to note that the register has no figure for this street in 2023. Overall, from 2002 to 2024, the guideline value has increased by 599%.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with the 2024 guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value for the village is Rs 3,850 per sq.ft, indicating that Gandhi Nagar 4th Street's 2024 figure is below this median.

• Gandhi Nagar 4th Cross Street: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar 1st Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Nagar 4th Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. The total cost for these fees would be Rs 2,97,000. 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 Nagar 4th Street?

The Sub Registrar Office that covers Gandhi Nagar 4th Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Valasaravakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the fees reflect the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Gandhi Nagar 4th Street?

The current guideline value of Gandhi Nagar 4th Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 472 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 599% over this period.

What are the other streets in Valasaravakkam with the same guideline value?

Other streets in Valasaravakkam with the same guideline value of Rs 3,300 per sq.ft include Gandhi Nagar 4th Cross Street, Gandhi Nagar 3rd Street, Gandhi Nagar 3rd Cross Street, Gandhi Nagar 2nd Street, Gandhi Nagar 2nd Cross Street, and Gandhi Nagar 1st Street.

Where is the Virugambakkam Sub Registrar Office located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in Gandhi Nagar 4th Street?

The stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at 7%.