Guideline Value for Gandhi Street 2nd Street

Gandhi Street 2nd Street guideline value

The current guideline value of Gandhi Street 2nd Street in Puzhal village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Redhills SRO and is classified as Residential Class I Type - I.

How the guideline value of Gandhi Street 2nd Street has changed

The guideline value for Gandhi Street 2nd Street has seen several revisions over the years. In 2007, the value was set at Rs 400 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, there was a decrease to Rs 1,005 per sq.ft in 2017. The most recent revisions show an increase to Rs 1,500 per sq.ft in 2023, followed by a further increase to Rs 1,650 per sq.ft in 2024, marking a 10% rise from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 313%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Puzhal

In Puzhal, there are 270 streets under the Redhills SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value is Rs 1,102 per sq.ft, placing Gandhi Street 2nd Street above this median at Rs 1,650 per sq.ft.

• Gandhi Street 2nd Lane: Rs 1,650 per sq.ft (2024)
• Gandhi Street 3rd Lane: Rs 1,650 per sq.ft (2024)
• Gandhi Street First Lane: Rs 1,650 per sq.ft (2024)
• Gandhi Street Pradhana Salai: Rs 1,650 per sq.ft (2024)
• Gangadaran Street: Rs 1,650 per sq.ft (2024)
• Gangadharan 1st Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Street 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. 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 detailed calculations.

Which Sub Registrar Office covers Gandhi Street 2nd Street?

The Sub Registrar Office covering Gandhi Street 2nd Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Puzhal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold. The guideline value ensures that the government receives appropriate revenue from property transactions.

When engaging in a property transaction, it is essential to be aware of the current guideline value, as it directly impacts the costs associated with registering the property. Buyers and sellers should ensure that they are informed about these values to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value of Gandhi Street 2nd Street?

The current guideline value of Gandhi Street 2nd Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, marking a total increase of 313% over the years.

What is the registration fee and stamp duty for a property in this area?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which Sub Registrar Office covers Gandhi Street 2nd Street?

The Redhills Sub Registrar Office covers Gandhi Street 2nd Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It serves as a benchmark for the government to collect revenue from these transactions.