Guideline Value for Gandhi Nagar 3rd Street

Gandhi Nagar 3rd Street guideline value

The current guideline value of Gandhi Nagar 3rd Street is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village under the Selaiyur SRO, classified as Residential Class I Type - II.

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 1,800 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 1,206 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 1,800 per sq.ft in the 2023 revision, before rising again to Rs 1,900 per sq.ft in the 2024 revision, reflecting a 6% increase.

From 2017 to 2023, the value saw a substantial increase of 49%. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 6%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 5,000 per sq.ft. The median value for these streets is Rs 2,150 per sq.ft, indicating that the guideline value for Gandhi Nagar 3rd Street is below this median.

• Gandhi Nagar 2nd Street: Rs 1,900 per sq.ft (2024)
• Gandhi Nagar 1st Street: Rs 1,900 per sq.ft (2024)
• Gandhi Nagar: Rs 1,900 per sq.ft (2024)
• Gandhi Nagar Main Road: Rs 1,900 per sq.ft (2024)
• Ganesh Nagar: Rs 2,700 per sq.ft (2024)
• Ganesh Nagar Cheran 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 1,900 per sq.ft, the total guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total to Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, 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 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 Rajakilpakkam

The guideline value is a crucial factor when buying or selling property in Rajakilpakkam, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that are payable during the transaction.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value to avoid any issues during registration. The registration office will use the guideline value to assess the appropriate fees, ensuring compliance with local regulations.

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 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then back to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What is the median guideline value in Rajakilpakkam?

The median guideline value for the 384 streets in Rajakilpakkam is Rs 2,150 per sq.ft, which is above the current value of Gandhi Nagar 3rd Street.

What are the stamp duty and registration fees for property in Gandhi Nagar 3rd Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty is Rs 1,33,000, and the registration fee is Rs 38,000, totaling Rs 1,71,000.

Which office handles property registration for Gandhi Nagar 3rd Street?

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