Guideline Value for Gandhi Nagar 3rd Cross st, "Verdant Acres"

Gandhi Nagar 3rd Cross st, "Verdant Acres" guideline value

The current guideline value for Gandhi Nagar 3rd Cross st, "Verdant Acres" is Rs 2,725 per sq.ft, effective from 1 July 2024. This property is located in Perumbakkam village, under the Selaiyur SRO, and is classified as Residential Special Type - I.

How the guideline value of Gandhi Nagar 3rd Cross st, "Verdant Acres" has changed

The guideline value for Gandhi Nagar 3rd Cross st has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,725 per sq.ft, an increase of 9% from the 2023 revision of Rs 2,500 per sq.ft. Looking back further, the value was Rs 1,675 per sq.ft in 2017, which represents a significant increase of 49% to the 2023 figure. In 2012, the value was Rs 2,500 per sq.ft, indicating a decrease of 33% to the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 9%.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. This means the historical data for those years is not applicable in understanding the changes in guideline value for Gandhi Nagar 3rd Cross st.

Guideline values in Perumbakkam

In Perumbakkam village, there are 225 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft, with the median value being Rs 2,725 per sq.ft. The guideline value for Gandhi Nagar 3rd Cross st aligns with this median.

• Gandhi Nagar Society: Rs 2,725 per sq.ft (2024)
• Gajendra Nagar 1st to 5th Cross street: Rs 3,300 per sq.ft (2024)
• Gajendra Nagar: Rs 3,300 per sq.ft (2024)
• Gengaiamman Koil Street: Rs 850 per sq.ft (2024)
• Ethiraj street: Rs 3,300 per sq.ft (2024)
• Global Avenue: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Nagar 3rd Cross st, "Verdant Acres"

For a 1,000 sq.ft plot at the current guideline value of Rs 2,725 per sq.ft, the total guideline value amounts to Rs 27,25,000. The stamp duty at 7% would be Rs 1,90,750, and the registration fee at 2% would be Rs 54,500, bringing the total cost for these fees to Rs 2,45,250. 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 detailed calculations.

Which Sub Registrar Office covers Gandhi Nagar 3rd Cross st, "Verdant Acres"?

The Sub Registrar Office that covers Gandhi Nagar 3rd Cross st, "Verdant Acres" 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 Perumbakkam

The guideline value is a crucial factor during the registration of property transactions in Perumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair price.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations associated with the property transaction.

Frequently asked questions

What is the current guideline value of Gandhi Nagar 3rd Cross st, "Verdant Acres"?

The current guideline value of Gandhi Nagar 3rd Cross st, "Verdant Acres" is Rs 2,725 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,725 per sq.ft in 2024, a 9% increase. Previously, it was Rs 1,675 per sq.ft in 2017, reflecting a 49% increase to the 2023 figure.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 27,25,000, the stamp duty is Rs 1,90,750, and the registration fee is Rs 54,500, totaling Rs 2,45,250. These fees are calculated based on the higher of the guideline value or the sale price.

Which office handles the registration for properties in this area?

The Selaiyur Sub Registrar Office handles the registration for properties in Gandhi Nagar 3rd Cross st, "Verdant Acres". It is located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

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

The land classification for Gandhi Nagar 3rd Cross st, "Verdant Acres" is Residential Special Type - I, indicating its suitability for residential purposes.