Guideline Value for Gandhi Nagar 2nd Cross Street

Gandhi Nagar 2nd Cross Street guideline value

The current guideline value of Gandhi Nagar 2nd Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Gandhi Nagar 2nd Cross Street has changed

The guideline value for Gandhi Nagar 2nd Cross Street has seen several revisions over the years. Starting from Rs 472 per sq.ft in 2002, it increased to Rs 513 per sq.ft in 2003, marking a 9% rise. The value then rose significantly to Rs 650 per sq.ft in 2007, reflecting a 27% increase. Following this, the value surged to Rs 3,000 per sq.ft in 2012, a remarkable 362% jump. However, it decreased to Rs 2,010 per sq.ft in 2017, representing a decline of 33%. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, which is a 64% increase from the 2017 figure.

It is important to note that there is no guideline value figure for this street in the 2023 revision. 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 a 2024 guideline value ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, placing Gandhi Nagar 2nd Cross Street's 2024 figure below that median.

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

Stamp duty and registration fee for property in Gandhi Nagar 2nd 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 to 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 our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gandhi Nagar 2nd Cross Street?

The Sub Registrar Office covering Gandhi Nagar 2nd Cross 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 an essential factor during property transactions in Valasaravakkam. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must consider this value to ensure compliance with local regulations and to avoid any legal issues during the registration process.

Additionally, the guideline value helps in establishing a baseline for property transactions. It serves as a reference point for both buyers and sellers, ensuring that the transaction is recorded accurately with the appropriate authorities.

Frequently asked questions

What is the current guideline value of Gandhi Nagar 2nd Cross Street?

The current guideline value of Gandhi Nagar 2nd Cross 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 over the years, from Rs 472 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 599%.

Is there a guideline value for Gandhi Nagar 2nd Cross Street in 2023?

No, the register has no figure for Gandhi Nagar 2nd Cross Street in the 2023 revision.

What are the stamp duty and registration fees for properties in this area?

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 2nd Cross Street located?

The Sub Registrar Office for Gandhi Nagar 2nd Cross Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.