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 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village under the Selaiyur SRO, with a land classification of Residential Special Type - I.

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

In the 2012 revision, the guideline value was set at Rs 2,000 per sq.ft, which remained unchanged until the 2023 revision. In 2023, the value was revised to Rs 2,000 per sq.ft, and then increased by 10% to Rs 2,200 per sq.ft in the 2024 revision.

There are no figures available for the years 2002, 2003, 2007, and 2017 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 2,400 per sq.ft. The guideline value for Gandhi Nagar 3rd Cross Street is below this median.

• Gandhi Nagar 3rdd Main Road: Rs 2,200 per sq.ft (2024)
• Gandhi Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Gandhi Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Gandhi Nagar 2nd Main Road: Rs 2,200 per sq.ft (2024)
• Gandhi Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Gandhi Nagar 4th Cross Street: Rs 2,200 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 rate, the guideline value is Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. The duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers Gandhi Nagar 3rd Cross 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 Madambakkam

The guideline value plays a crucial role during property registration in Madambakkam. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold, ensuring that the transaction is recorded accurately.

When a buyer or seller engages in a property transaction, the guideline value is assessed to calculate the applicable fees. This value helps maintain transparency and fairness in property dealings, as it reflects the official valuation set by the Registration Department.

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 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 2,000 per sq.ft from 2012 to 2023, and then increased by 10% to Rs 2,200 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, and 2017.

What is the land classification for Gandhi Nagar 3rd Cross Street?

The land classification for Gandhi Nagar 3rd Cross Street is Residential Special Type - I, indicating its designated use for residential purposes.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073. This office handles property registrations in the area.

How is the stamp duty calculated for properties in Gandhi Nagar 3rd Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For instance, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees can be calculated accordingly.