Guideline Value for Gandhi Nagar 5th Street

Gandhi Nagar 5th Street guideline value

The current guideline value of Gandhi Nagar 5th Street is Rs 3,300 per sq.ft. 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 5th Street has changed

The guideline value for Gandhi Nagar 5th Street has undergone several revisions over the years. In 2007, the value was set at Rs 1,000 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% rise. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, reflecting a decline of 33%. The most recent revision in 2024 has set the value at Rs 3,300 per sq.ft, representing a 64% increase from the 2017 figure.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 230%. It is important to note that there are no figures available for the years 2023, 2003, and 2002 for this street.

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 for these streets is Rs 3,300 per sq.ft, which is the same as the guideline value for Gandhi Nagar 5th Street.

• Gandhi Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar Avenue: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar Extension: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar 1st Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Nagar 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000. Together, the total fees would come to Rs 2,97,000. It is important to note that the 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 details.

Which Sub Registrar Office covers Gandhi Nagar 5th Street?

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

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kolathur. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay stamp duty based on the higher value between the guideline value and the actual sale price. This ensures that the state government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Gandhi Nagar 5th Street?

The current guideline value of Gandhi Nagar 5th 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 changed from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting a total increase of 230% over the years.

What is the registration office for Gandhi Nagar 5th Street?

The registration office for Gandhi Nagar 5th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What are the stamp duty rates applicable?

The stamp duty rate applicable is 7% of the guideline value or sale price, whichever is higher, along with a registration fee of 2%.

Are there other streets with the same guideline value in Kolathur?

Yes, there are several other streets in Kolathur with the same guideline value of Rs 3,300 per sq.ft, including Gandhi Nagar 4th Street, 3rd Street, Avenue, 2nd Street, Extension, and 1st Street.