Guideline Value for Gandhi Nagar 2nd Street Ward 4

Gandhi Nagar 2nd Street Ward 4 guideline value

The current guideline value of Gandhi Nagar 2nd Street Ward 4 is Rs 400 per sq.ft, effective from 1 July 2024. This street is located in Acharapakkam village, under the Acchirapakkam SRO, and is classified as Residential Special Type - I.

How the guideline value of Gandhi Nagar 2nd Street Ward 4 has changed

The guideline value for Gandhi Nagar 2nd Street Ward 4 has seen several revisions over the years. The earliest recorded revision was in 2007, with a value of Rs 100 per sq.ft. This increased to Rs 300 per sq.ft in 2012, a rise of 200%. However, from 2012 to 2017, the value decreased by 33% to Rs 201 per sq.ft. The next revision in 2023 maintained the value at Rs 400 per sq.ft, reflecting a significant increase of 99% from 2017. As of the 2024 revision, the guideline value remains unchanged at Rs 400 per sq.ft, indicating a 0% change from the previous year.

The register has no figures for the years 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 300%.

Guideline values in Acharapakkam

Acharapakkam village has a total of 61 streets under the Acchirapakkam SRO that carry a guideline value for 2024, ranging from Rs 250 to Rs 600 per sq.ft. The median guideline value is Rs 400 per sq.ft, which is equal to the 2024 figure for Gandhi Nagar 2nd Street Ward 4.

• Gandhi Nagar 3rd Street Ward 4: Rs 400 per sq.ft (2024)
• Gandhi Nagar 1st Street Ward 4: Rs 400 per sq.ft (2024)
• Gandhi Nagar 4th Street Ward 4: Rs 400 per sq.ft (2024)
• Gandhi Nagar 5th Street Ward 4: Rs 400 per sq.ft (2024)
• Gandhi Nagar (Extention): Rs 400 per sq.ft (2024)
• Girls Hostel Near Ward 7: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Nagar 2nd Street Ward 4

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, leading to a total of Rs 36,000 for these charges. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gandhi Nagar 2nd Street Ward 4?

The Sub Registrar Office that covers Gandhi Nagar 2nd Street Ward 4 is the Acchirapakkam Sub Registrar Office, located at No.70, Bazzar Street, Acchirapakkam-603301, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor used during the registration of property transactions in Acharapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps in assessing the fair price for the transaction. Buyers and sellers should be aware of the current guideline value to facilitate a smooth transaction process and comply with legal requirements.

Frequently asked questions

What is the current guideline value of Gandhi Nagar 2nd Street Ward 4?

The current guideline value of Gandhi Nagar 2nd Street Ward 4 is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 400 per sq.ft in 2024, marking an overall increase of 300% over the years.

What is the classification of land in Gandhi Nagar 2nd Street Ward 4?

The land classification for Gandhi Nagar 2nd Street Ward 4 is Residential Special Type - I.

Where can I find the Acchirapakkam Sub Registrar Office?

The Acchirapakkam Sub Registrar Office is located at No.70, Bazzar Street, Acchirapakkam-603301, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Acharapakkam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 4,00,000, the stamp duty at 7% would be Rs 28,000.