Guideline Value for Gandhi Nagar 6th Cross Street

Gandhi Nagar 6th Cross Street guideline value

The current guideline value of Gandhi Nagar 6th Cross Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, under the Madhavaram SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Gandhi Nagar 6th Cross Street has changed

The guideline value for Gandhi Nagar 6th Cross Street has seen several revisions over the years. In the 2012 revision, the guideline value was Rs 2,500 per sq.ft. The most recent revision in 2024 has increased this value to Rs 2,700 per sq.ft, marking an 8% increase from the 2012 figure.

It is important to note that there are no figures available for the years 2002, 2003, 2007, 2017, and 2023 in the register for this street. Therefore, the only revisions available are from 2012 and 2024.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value, ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value is Rs 2,700 per sq.ft, which is the same as the current value for Gandhi Nagar 6th Cross Street.

• 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)
• Gandhi Nagar 5th Street: Rs 2,700 per sq.ft (2024)
• Gandhi Nagar 6th Street: Rs 2,700 per sq.ft (2024)
• Gandhi Nagar 5th Cross Street: Rs 2,200 per sq.ft (2024)
• Gandhi Nagar 7th Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Nagar 6th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value is 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 to Rs 2,43,000. 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 6th Cross Street?

The Sub Registrar Office that covers Gandhi Nagar 6th Cross Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

When buying or selling property in Kodungaiyur, the guideline value is a crucial factor used during the registration process. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

The guideline value ensures that the property is assessed fairly for taxation purposes, providing a standard that reflects the value of properties in the area. This helps in maintaining transparency in real estate transactions.

Frequently asked questions

What is the current guideline value of Gandhi Nagar 6th Cross Street?

The current guideline value of Gandhi Nagar 6th Cross Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 2,500 per sq.ft in 2012 to Rs 2,700 per sq.ft in 2024, which is an 8% increase. There are no figures available for the years 2003, 2007, 2017, and 2023 for this street.

What is the land classification for Gandhi Nagar 6th Cross Street?

The land classification for Gandhi Nagar 6th Cross Street is Residential Class I Type - I. This classification indicates the type of development allowed in the area.

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

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.