Guideline Value for Gandhimathi 2nd Lane (Vetri Nagar Extension)

Gandhimathi 2nd Lane (Vetri Nagar Extension) guideline value

The current guideline value of Gandhimathi 2nd Lane (Vetri Nagar Extension) is Rs 3,301 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village, under the jurisdiction of the Sembiam SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Gandhimathi 2nd Lane (Vetri Nagar Extension) has changed

The guideline value for Gandhimathi 2nd Lane has seen several revisions over the years. In 2007, the value was 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 value then rose to Rs 3,000 per sq.ft in 2023, a 49% increase. The latest revision in 2024 set the guideline value at Rs 3,301 per sq.ft, which is a 10% increase from the previous year.

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

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median value is Rs 3,301 per sq.ft, which is the same as the guideline value for Gandhimathi 2nd Lane.

• Gandhimathi 1st Lane (Vetri Nagar Extension): Rs 3,301 per sq.ft (2024)
• Gandhimathi Street (Vetri Nagar Extension): Rs 3,300 per sq.ft (2024)
• E.S.I. Hospital Street: Rs 3,301 per sq.ft (2024)
• Elumalai Street (Vetri Nagar): Rs 3,301 per sq.ft (2024)
• Elumalai Street (George Colony): Rs 4,200 per sq.ft (2024)
• George Colony: Rs 4,200 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhimathi 2nd Lane (Vetri Nagar Extension)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,301 per sq.ft, the total guideline value would be Rs 33,01,000. The stamp duty at 7% would amount to Rs 2,31,070, and the registration fee at 2% would be Rs 66,020, bringing the total fees to Rs 2,97,090. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gandhimathi 2nd Lane (Vetri Nagar Extension)?

The Sub Registrar Office that covers Gandhimathi 2nd Lane (Vetri Nagar Extension) 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 Peravallur

The guideline value is a critical component in the registration process of property transactions in Peravallur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the registration fees and stamp duties are appropriately calculated based on the guideline value.

When buying or selling property, the guideline value helps both parties understand the financial implications of the transaction. It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations and to avoid any potential disputes during the registration process.

Frequently asked questions

What is the current guideline value of Gandhimathi 2nd Lane?

The current guideline value of Gandhimathi 2nd Lane (Vetri Nagar Extension) is Rs 3,301 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 3,301 per sq.ft in 2024, reflecting an overall increase of 230% over the years.

What is the land classification for Gandhimathi 2nd Lane?

The land classification for Gandhimathi 2nd Lane (Vetri Nagar Extension) is Residential Special Type - II.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Gandhimathi 2nd Lane?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 2,31,070.