Guideline Value for Gandhi Nagar 3rd Street

Gandhi Nagar 3rd Street guideline value

The current guideline value of Gandhi Nagar 3rd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village, under the Selaiyur SRO, and is classified as Residential Special Type - I.

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

In the 2012 revision, the guideline value for Gandhi Nagar 3rd Street was Rs 2,000 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 2,000 per sq.ft. However, in the 2024 revision, the guideline value increased by 10% to Rs 2,200 per sq.ft.

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

Guideline values in Madambakkam

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

• Gandhi Nagar 3rdd Main Road: Rs 2,200 per sq.ft (2024)
• Gandhi Nagar 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Gandhi Nagar 4th Cross Street: Rs 2,200 per sq.ft (2024)
• Gandhi Nagar 4th Main Road: Rs 2,200 per sq.ft (2024)
• Gandhi Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Gandhi Nagar 2nd Street: Rs 2,200 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that 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 Street?

The Sub Registrar Office that covers Gandhi Nagar 3rd 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, 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 the registration of property transactions in Madambakkam. When a property is bought or sold, the guideline value is used to determine the stamp duty and registration fees that need to be paid to the government.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly affects the costs associated with property transactions. Ensuring that the guideline value is accurately reflected in the documentation can help avoid any legal complications 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 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Gandhi Nagar 3rd Street has changed from Rs 2,000 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase. There were no changes recorded in 2023.

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

Gandhi Nagar 3rd Street is classified as Residential Special Type - I. This classification may affect the types of properties and developments allowed in the area.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Gandhi Nagar 3rd Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at a rate of 7%.