Guideline Value for Gandhi Nagar 6th Street

Gandhi Nagar 6th Street guideline value

The current guideline value of Gandhi Nagar 6th Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village and falls under the Madhavaram SRO, classified as Residential Class I Type - I.

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

In the 2012 revision, the guideline value for Gandhi Nagar 6th Street was Rs 2,500 per sq.ft. The current 2024 revision shows an increase of 8%, bringing the value to Rs 2,700 per sq.ft. There are no figures available for the revisions in 2023, 2017, 2007, 2003, and 2002 for this street.

Thus, the only revisions that provide figures for Gandhi Nagar 6th Street are from 2012 and 2024, with the value rising from Rs 2,500 to Rs 2,700 per sq.ft.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO, with 2024 guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value of these streets is Rs 2,700 per sq.ft, which matches the guideline value of Gandhi Nagar 6th Street.

• Gandhi Nagar 6th Cross Street 2nd Street: Rs 2,200 per sq.ft (2024)
• Gandhi Nagar 6th Cross Street 1st Street: Rs 2,200 per sq.ft (2024)
• Gandhi Nagar 7th Cross Street: Rs 2,200 per sq.ft (2024)
• Gandhi Nagar 6th Cross Street: Rs 2,700 per sq.ft (2024)
• Gandhi Nagar 7th Cross Street 1st Street: Rs 2,200 per sq.ft (2024)
• Gandhi Nagar 7th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Nagar 6th 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 to Rs 2,43,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gandhi Nagar 6th Street?

The Sub Registrar Office that covers Gandhi Nagar 6th 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

The guideline value is a crucial factor in property transactions in Kodungaiyur, 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, ensuring that all transactions are conducted fairly and transparently.

When buying or selling property, it is essential to be aware of the current guideline value, as it can influence the overall cost of the transaction. Buyers should ensure they are informed about the guideline value to avoid any discrepancies during registration.

Frequently asked questions

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

The current guideline value of Gandhi Nagar 6th 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 increase of 8%. There are no figures available for the revisions in 2023, 2017, 2007, 2003, and 2002 for this street.

What is the classification of Gandhi Nagar 6th Street?

Gandhi Nagar 6th Street is classified as Residential Class I Type - I under the Madhavaram SRO.

What are the stamp duty and registration fees for properties in Gandhi Nagar 6th Street?

Stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher. 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.

Where is the Sub Registrar Office located for Gandhi Nagar 6th Street?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060, covering Gandhi Nagar 6th Street.