Guideline Value for Gandhi Nagar 4th Cross Street

Gandhi Nagar 4th Cross Street guideline value

The current guideline value for Gandhi Nagar 4th Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village under the Selaiyur SRO, classified as Residential Special Type - I.

How the guideline value of Gandhi Nagar 4th Cross Street has changed

In the 2012 revision, the guideline value was set at 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 revisions in 2002, 2003, 2007, and 2017 for this street. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO carrying a 2024 guideline value, ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 2,400 per sq.ft. The guideline value for Gandhi Nagar 4th Cross Street is below this median.

• 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 3rd Street: Rs 2,200 per sq.ft (2024)
• Gandhi Nagar 5th Main Road: Rs 2,200 per sq.ft (2024)
• Gandhi Nagar 3rdd Main Road: Rs 2,200 per sq.ft (2024)
• Gandhi Nagar 3rd Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Nagar 4th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, making the total cost for these fees Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Gandhi Nagar 4th Cross Street?

The Sub Registrar Office that covers Gandhi Nagar 4th Cross 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 details.

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

The guideline value is a crucial factor when registering property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buyers or sellers engage in a property transaction, the guideline value helps to establish a fair price for the property being sold. This value is used to calculate the stamp duty and registration fees, which are mandatory for completing the transaction legally.

Frequently asked questions

What is the current guideline value for Gandhi Nagar 4th Cross Street?

The current guideline value for Gandhi Nagar 4th Cross 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 4th Cross Street was Rs 2,000 per sq.ft in 2012 and remained the same in 2023. It increased to Rs 2,200 per sq.ft in 2024, marking a 10% increase from 2023.

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

Stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total stamp duty and registration fees would be Rs 1,98,000.

Which office handles property registrations for Gandhi Nagar 4th Cross Street?

The Selaiyur Sub Registrar Office handles property registrations for Gandhi Nagar 4th Cross Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification for Gandhi Nagar 4th Cross Street?

The land classification for Gandhi Nagar 4th Cross Street is Residential Special Type - I, which indicates its suitability for residential purposes.