Guideline Value for Gandhi Nagar 1st Cross Street

Gandhi Nagar 1st Cross Street guideline value

The current guideline value of Gandhi Nagar 1st Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kilkattalai village under the Pallavaram SRO, and the land classification is Mixed Type - II.

How the guideline value of Gandhi Nagar 1st Cross Street has changed

The guideline value for Gandhi Nagar 1st Cross Street has seen several revisions over the years. Starting from Rs 223 per sq.ft in 2003, it increased to Rs 700 per sq.ft in 2007, marking a significant rise of 214%. In 2012, the value remained unchanged at Rs 3,000 per sq.ft, but it dropped to Rs 2,010 per sq.ft in 2017, a decrease of 33%. The value then rose to Rs 3,000 per sq.ft in 2023, before reaching the current rate of Rs 3,300 per sq.ft in 2024, reflecting a 10% increase.

Overall, from 2003 to 2024, the guideline value has increased by 1380%. The register does not have a figure for the year 2002 for this street.

Guideline values in Kilkattalai

Kilkattalai village has 194 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median guideline value in the village is Rs 2,530 per sq.ft, making the current value of Rs 3,300 per sq.ft for Gandhi Nagar 1st Cross Street above the median.

• Gandhi Nagar 1 To 3 Main Road: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar 1 To 3 Streets: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar Main Road: Rs 4,125 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Gandhi Nagar 1st Cross Street?

The Sub Registrar Office that covers Gandhi Nagar 1st Cross Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kilkattalai. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that the fees are calculated based on the current market standards set by the Registration Department.

When a property is registered, the guideline value serves as a benchmark for the transaction, helping to standardize property valuations. This ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Gandhi Nagar 1st Cross Street?

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

How has the guideline value changed over the years?

Since 2003, the guideline value has increased from Rs 223 per sq.ft to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 1380% over the years.

What is the median guideline value in Kilkattalai?

The median guideline value in Kilkattalai is Rs 2,530 per sq.ft, with Gandhi Nagar 1st Cross Street's current value above this median.

What are the stamp duty and registration fees for a property in Gandhi Nagar 1st Cross Street?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Where is the Sub Registrar Office for Gandhi Nagar 1st Cross Street located?

The Sub Registrar Office for Gandhi Nagar 1st Cross Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.