Guideline Value for Gandhi Nagar 3rd Street

Gandhi Nagar 3rd Street guideline value

The current guideline value of Gandhi Nagar 3rd Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO and is classified as Residential Class I Type - I.

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

The guideline value for Gandhi Nagar 3rd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in the 2017 revision. However, from 2017 to 2024, the value increased significantly by 61%, reaching the current rate of Rs 2,700 per sq.ft.

Overall, from the 2012 revision to the 2024 revision, there has been a slight increase of 8%. It is important to note that the register does not have figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets listed under the Madhavaram SRO, with the 2024 guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value is Rs 2,700 per sq.ft, which is equal to the guideline value of Gandhi Nagar 3rd Street.

• Gandhi Nagar 4th Cross Street: Rs 2,200 per sq.ft (2024)
• Gandhi Nagar 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Gandhi Nagar 4th Street: Rs 2,700 per sq.ft (2024)
• Gandhi Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Gandhi Nagar 5th Cross Street: Rs 2,200 per sq.ft (2024)
• Gandhi Nagar 5th Street: Rs 2,700 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, leading to a total of Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gandhi Nagar 3rd Street?

The Sub Registrar Office that covers Gandhi Nagar 3rd Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process of property transactions in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of properties.

When a property is registered, the guideline value is used to calculate the fees, ensuring that the transaction is in compliance with local regulations. Buyers and sellers should be aware of the guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Gandhi Nagar 3rd Street?

The current guideline value of Gandhi Nagar 3rd Street is Rs 2,700 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 2012 to Rs 1,675 per sq.ft in 2017, and then increased to Rs 2,700 per sq.ft in 2024.

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

Gandhi Nagar 3rd Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Gandhi Nagar 3rd Street?

The Madhavaram Sub Registrar Office covers Gandhi Nagar 3rd Street and is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 at a rate of 7%.