Guideline Value for Gandhi Nagar 3rd Cross Street

Gandhi Nagar 3rd Cross Street guideline value

The current guideline value of Gandhi Nagar 3rd Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the jurisdiction of the Virugambakkam SRO, and is classified as Residential Class II Type - II.

How the guideline value of Gandhi Nagar 3rd Cross Street has changed

The guideline value for Gandhi Nagar 3rd 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, which was a 27% increase. Following this, the guideline value surged to Rs 3,000 per sq.ft in 2012, reflecting a substantial 362% increase. However, it dropped to Rs 2,010 per sq.ft in the 2017 revision, a decline of 33%. The most recent revision in 2024 has set the guideline 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 figure recorded for the year 2023 for this street. 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 that carry a 2024 guideline value ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 3,850 per sq.ft, placing Gandhi Nagar 3rd Cross Street's 2024 figure below this median.

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

Stamp duty and registration fee for property in Gandhi Nagar 3rd 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.

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

Which Sub Registrar Office covers Gandhi Nagar 3rd Cross Street?

The Sub Registrar Office that covers Gandhi Nagar 3rd 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 when buying or selling property in Valasaravakkam. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the registration process.

When a property is sold, the guideline value is compared with 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 3rd Cross Street?

The current guideline value of Gandhi Nagar 3rd 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 472 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 599% over this period.

What is the registration office for Gandhi Nagar 3rd Cross Street?

The registration office for Gandhi Nagar 3rd Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000.

What are the guideline values for other streets in Valasaravakkam?

Other streets in Valasaravakkam have guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft, with the median being Rs 3,850 per sq.ft. Gandhi Nagar 3rd Cross Street's guideline value is below this median.