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 Kilkattalai village under the Pallavaram SRO, and it falls under the Mixed Type - II land classification.

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 the 2003 revision, the guideline value was Rs 223 per sq.ft. It increased significantly to Rs 700 per sq.ft in 2007, marking a change of +214%. The value then rose to Rs 3,000 per sq.ft in 2012, showing a substantial increase of +329%. However, it decreased to Rs 2,010 per sq.ft in 2017, reflecting a drop of -33%. The value then increased to Rs 3,000 per sq.ft in 2023, which was a +49% change. The most recent revision in 2024 has set the guideline value at Rs 3,300 per sq.ft, marking a +10% increase from the previous year.

It is important to note that the register has no figure for this street for the year 2002.

Guideline values in Kilkattalai

In Kilkattalai, there are 194 streets under the Pallavaram SRO that carry a guideline value for 2024, ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,530 per sq.ft, which means that the guideline value of Rs 3,300 per sq.ft for Gandhi Nagar 2nd Cross Street is above this median.

• Gandhi Nagar 1 To 3 Streets: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar 1 To 3 Main Road: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar: 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 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 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. Together, these fees would total 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.

You can use the stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers Gandhi Nagar 2nd 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 during the registration process of property transactions in Kilkattalai. It serves as a reference point 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 sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

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 from Rs 223 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, marking an overall increase of +1380% over the years.

What are the stamp duty rates in Gandhi Nagar 2nd Cross Street?

The stamp duty for properties in Gandhi Nagar 2nd Cross Street is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Gandhi Nagar 2nd Cross Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

What is the median guideline value in Kilkattalai?

The median guideline value in Kilkattalai is Rs 2,530 per sq.ft, and the guideline value for Gandhi Nagar 2nd Cross Street is above this median at Rs 3,300 per sq.ft.