Guideline Value for Gandhi Nagar 2nd Street

Gandhi Nagar 2nd Street guideline value

The current guideline value of Gandhi Nagar 2nd Street is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village, under the Selaiyur SRO. The land classification for this area is Residential Class I Type - II.

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

The guideline value for Gandhi Nagar 2nd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which was then reduced to Rs 1,206 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,800 per sq.ft, representing a 49% rise. The latest revision in 2024 has brought the guideline value to Rs 1,900 per sq.ft, reflecting a 6% increase from the previous year.

It's important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has seen a slight increase of 6%.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 5,000 per sq.ft, with a median value of Rs 2,150 per sq.ft. The guideline value for Gandhi Nagar 2nd Street is below this median.

• Gandhi Nagar 3rd Street: Rs 1,900 per sq.ft (2024)
• Gandhi Nagar 1st Street: Rs 1,900 per sq.ft (2024)
• Gandhi Nagar: Rs 1,900 per sq.ft (2024)
• Gandhi Nagar Main Road: Rs 1,900 per sq.ft (2024)
• Ganesh Nagar: Rs 2,700 per sq.ft (2024)
• Ganesh Nagar Cheran Street: Rs 2,700 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would amount to Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total fees together to Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Gandhi Nagar 2nd Street?

The Sub Registrar Office that covers Gandhi Nagar 2nd Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Rajakilpakkam. It serves as a reference point for determining the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees applicable to the transaction.

It is crucial for buyers and sellers to be aware of the guideline value as it impacts the overall cost of the transaction. The fees are calculated based on this value, ensuring that all property transactions are conducted fairly and transparently.

Frequently asked questions

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

The current guideline value of Gandhi Nagar 2nd Street is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then increased to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What is the land classification for Gandhi Nagar 2nd Street?

The land classification for Gandhi Nagar 2nd Street is Residential Class I Type - II.

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

The Selaiyur Sub Registrar Office covers Gandhi Nagar 2nd Street and is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.

How is stamp duty calculated for properties in Gandhi Nagar 2nd Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000, leading to a stamp duty of Rs 1,33,000.