Guideline Value for Gandhi Nagar 4th Street

Gandhi Nagar 4th Street guideline value

The current guideline value of Gandhi Nagar 4th 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 4th Street has changed

Since the 2012 revision, the guideline value for Gandhi Nagar 4th Street has undergone several changes. In 2012, the guideline value was Rs 2,500 per sq.ft, which decreased to Rs 1,675 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value saw a significant increase to Rs 2,700 per sq.ft in the 2024 revision, representing a rise of 61% from the 2017 figure.

Overall, from 2012 to 2024, the guideline value has increased by 8%. It is important to note that there are no figures available for the years 2023, 2007, 2003, and 2002 for this street.

Guideline values in Kodungaiyur

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

• Gandhi Nagar 5th Cross Street: Rs 2,200 per sq.ft (2024)
• Gandhi Nagar 5th Street: Rs 2,700 per sq.ft (2024)
• Gandhi Nagar 4th Cross Street: Rs 2,200 per sq.ft (2024)
• Gandhi Nagar 6th Cross Street: Rs 2,700 per sq.ft (2024)
• Gandhi Nagar 6th Cross Street 1st Street: Rs 2,200 per sq.ft (2024)
• Gandhi Nagar 6th Cross Street 2nd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Nagar 4th 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, bringing the total cost to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Gandhi Nagar 4th Street?

The Sub Registrar Office that covers Gandhi Nagar 4th 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 is an essential factor in the registration process when buying or selling property in Kodungaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered and is used to calculate the applicable stamp duty and registration fees.

When a property is sold, the guideline value helps ensure transparency in transactions, as it provides a standard reference point for both buyers and sellers. This value is crucial for legal documentation and compliance with local regulations during the sale process.

Frequently asked questions

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

The current guideline value of Gandhi Nagar 4th Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, 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 are the stamp duty and registration fees for property in this area?

The stamp duty is charged at 7%, and the registration fee is charged at 2% of the guideline value or sale price, whichever is higher.

Which Sub Registrar Office covers this street?

The Madhavaram Sub Registrar Office covers Gandhi Nagar 4th Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification of Gandhi Nagar 4th Street?

Gandhi Nagar 4th Street is classified as Residential Class I Type - I.