Guideline Value for Gandhi Nagar (a) Kallukadai medu street

Gandhi Nagar (a) Kallukadai medu street guideline value

The current guideline value of Gandhi Nagar (a) Kallukadai medu street is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Old Gummidipoondi village under the Gummidipoondi SRO, and is classified as Residential Class II Type - I.

How the guideline value of Gandhi Nagar (a) Kallukadai medu street has changed

The guideline value for Gandhi Nagar (a) Kallukadai medu street has seen several revisions over the years. The 2007 revision set the value at Rs 400 per sq.ft, which increased to Rs 600 per sq.ft in 2012. However, this value decreased to Rs 402 per sq.ft in 2017. Following this, the 2023 revision raised the guideline value to Rs 600 per sq.ft, and the most recent 2024 revision further increased it to Rs 660 per sq.ft, marking a 10% rise from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 65%. It is important to note that there are no figures available for this street in the 2002 and 2003 revisions.

Guideline values in Old Gummidipoondi

In Old Gummidipoondi, there are 90 streets under the Gummidipoondi SRO that carry a 2024 guideline value ranging from Rs 220 to Rs 1,210 per sq.ft. The median value for these streets is Rs 660 per sq.ft, which is equal to the guideline value of Gandhi Nagar (a) Kallukadai medu street.

• GanGan Thotti Ward No.13 Door No.1-20: Rs 660 per sq.ft (2024)
• Erular Colony Ward No.12 Door No.1-40: Rs 220 per sq.ft (2024)
• Erikarai Street Ward No.12 Door No.1-23 Lake band street: Rs 330 per sq.ft (2024)
• G.N.T Road Ward No.5 Door No.1-28 Railway Gate to Vettu Colony: Rs 660 per sq.ft (2024)
• G.N.T Road Ward No.6 Door No.1-134B Vettu Colony to Travellers Bungalow: Rs 660 per sq.ft (2024)
• G.N.T Road Ward No.7 Door No.135-214 A Travellers Baungalow to Ganapathy Theatre: Rs 1,210 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Nagar (a) Kallukadai medu street

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, while the registration fee at 2% would be Rs 13,200, bringing the total fees together to Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gandhi Nagar (a) Kallukadai medu street?

The Sub Registrar Office that covers Gandhi Nagar (a) Kallukadai medu street is the Gummidipoondi Sub Registrar Office, located at No.9, Grc Complex, G.n.t.road, Gummidipoondi-601201, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Old Gummidipoondi. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction, ensuring that these costs are calculated based on the official value set by the government.

When a property is sold, the guideline value is used to assess the minimum value at which the property can be registered. This means that if the sale price is lower than the guideline value, the stamp duty and registration fees will still be calculated based on the guideline value, protecting the state's revenue interests.

Frequently asked questions

What is the current guideline value for Gandhi Nagar (a) Kallukadai medu street?

The current guideline value for Gandhi Nagar (a) Kallukadai medu street is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 400 per sq.ft in 2007, increasing to Rs 600 per sq.ft in 2012, then decreasing to Rs 402 per sq.ft in 2017. The value rose to Rs 600 per sq.ft in 2023 and is now Rs 660 per sq.ft in 2024.

What is the land classification for this street?

Gandhi Nagar (a) Kallukadai medu street is classified as Residential Class II Type - I.

Where can I find the Gummidipoondi Sub Registrar Office?

The Gummidipoondi Sub Registrar Office is located at No.9, Grc Complex, G.n.t.road, Gummidipoondi-601201, Chennai registration zone.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 6,60,000, the stamp duty at 7% would be Rs 46,200.