Guideline Value for Gandhi Nagar 3rd Street

Gandhi Nagar 3rd Street guideline value

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

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

In the 2007 revision, the guideline value was Rs 1,000 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in the 2012 revision, marking a 200% increase. However, in the 2017 revision, the value decreased to Rs 2,010 per sq.ft, which is a decline of 33% from the previous revision.

As of the 2024 revision, the guideline value for Gandhi Nagar 3rd Street has risen to Rs 3,300 per sq.ft, reflecting a substantial increase of 64% from the 2017 figure. Overall, from the 2007 revision to the 2024 revision, there has been an increase of 230% in the guideline value.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the guideline value of Gandhi Nagar 3rd Street.

• Gandhi Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar Avenue: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar Extension: Rs 3,300 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 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 charges to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gandhi Nagar 3rd Street?

The Sub Registrar Office that covers Gandhi Nagar 3rd Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions in Kolathur, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration requirements.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. 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 Street?

The current guideline value of Gandhi Nagar 3rd 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 seen various changes, from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 230% since 2007.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations for Gandhi Nagar 3rd Street?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, handles registrations for Gandhi Nagar 3rd Street.

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

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