Guideline Value for Gandhi Salai Karnam Street

Gandhi Salai Karnam Street guideline value

The current guideline value of Gandhi Salai Karnam Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO. The land classification for this street is Residential Class II Type - II.

How the guideline value of Gandhi Salai Karnam Street has changed

The guideline value for Gandhi Salai Karnam Street has seen several revisions over the years. The oldest recorded revision is from 2012, where the guideline value was Rs 4,000 per sq.ft. From 2012 to the 2024 revision, there was an increase of 10%, bringing the current value to Rs 4,400 per sq.ft. The register has no figures for the years 2023, 2017, 2007, 2003, and 2002 for this street.

In summary, the 2012 revision set the value at Rs 4,000 per sq.ft, and the subsequent 2024 revision increased it to Rs 4,400 per sq.ft. This change reflects a consistent upward adjustment in the guideline value over the years.

Guideline values in Velachery

In Velachery, a total of 2691 streets are registered under the Velacheri SRO, with guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, which is the same as the current value for Gandhi Salai Karnam Street.

• Gandhi Salai Kamarajar Street: Rs 4,400 per sq.ft (2024)
• Gandhi Salai Link Road: Rs 4,400 per sq.ft (2024)
• Gandhi Salai, Mahalakshmi Street: Rs 4,400 per sq.ft (2024)
• Gandhi Salai Car Street: Rs 4,400 per sq.ft (2024)
• Gandhi Salai Pond Street: Rs 4,400 per sq.ft (2024)
• Gandhi Salai (Bharathiyar Street): Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Salai Karnam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, leading to a total of Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gandhi Salai Karnam Street?

The Sub Registrar Office that covers Gandhi Salai Karnam Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in determining the stamp duty and registration fees when buying or selling property in Velachery. It serves as a benchmark for the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When a property is sold, the guideline value helps in calculating the applicable fees. Buyers and sellers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value for Gandhi Salai Karnam Street?

The current guideline value for Gandhi Salai Karnam Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Gandhi Salai Karnam Street was Rs 4,000 per sq.ft in 2012 and increased to Rs 4,400 per sq.ft in 2024, reflecting a 10% increase. The register has no figures for the years 2023, 2017, 2007, 2003, and 2002 for this street.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Gandhi Salai Karnam Street?

The Sub Registrar Office for Gandhi Salai Karnam Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Gandhi Salai Karnam Street?

The land classification for Gandhi Salai Karnam Street is Residential Class II Type - II, indicating its designation for residential use within the area.