Guideline Value for Gandni Puram

Gandni Puram guideline value

The current guideline value of Gandni Puram is Rs 275 per sq.ft, effective from 1 July 2024. This street is located in Sokandi village, under the Sunguvarchattram SRO, with a land classification of Residential Special Type - II.

How the guideline value of Gandni Puram has changed

The guideline value for Gandni Puram has undergone several revisions over the years. In 2012, the value was set at Rs 275 per sq.ft. This remained unchanged until the next revision in 2017, where it decreased to Rs 184 per sq.ft. Following this, the value increased significantly to Rs 275 per sq.ft in the 2023 revision, and it has remained the same in the 2024 revision. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, there has been no change in the guideline value.

Guideline values in Sokandi

Sokandi village has 35 streets under the Sunguvarchattram SRO, with guideline values ranging from Rs 181 to Rs 1,000 per sq.ft. The median guideline value for these streets is Rs 300 per sq.ft, placing Gandni Puram's 2024 figure below that median.

• Dhanraj Nagar: Rs 500 per sq.ft (2024)
• Jai Hind Nagar: Rs 200 per sq.ft (2024)
• Jei Bharath Nagar: Rs 250 per sq.ft (2024)
• Bharathiyar Street: Rs 275 per sq.ft (2024)
• Arul Nagar: Rs 250 per sq.ft (2024)
• Kuzhandai Easu Nagar: Rs 275 per sq.ft (2024)

Stamp duty and registration fee for property in Gandni Puram

For a 1,000 sq.ft plot at the current guideline value of Rs 275 per sq.ft, the total guideline value amounts to Rs 2,75,000. The stamp duty at 7% would be Rs 19,250, and the registration fee at 2% would be Rs 5,500, bringing the total fees to Rs 24,750. 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 Gandni Puram?

The Sub Registrar Office that covers Gandni Puram is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Sokandi. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations and to calculate the associated fees accurately.

Frequently asked questions

What is the current guideline value of Gandni Puram?

The current guideline value of Gandni Puram is Rs 275 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen fluctuations, with a decrease in 2017 to Rs 184 per sq.ft, followed by an increase back to Rs 275 per sq.ft in 2023 and 2024.

What is the land classification of Gandni Puram?

Gandni Puram is classified as Residential Special Type - II.

What are the stamp duty and registration fees for property in Gandni Puram?

For a property valued at Rs 2,75,000, the stamp duty would be Rs 19,250, and the registration fee would be Rs 5,500, totaling Rs 24,750.

Which office handles property registrations for Gandni Puram?

The Sunguvarchattram Sub Registrar Office handles property registrations for Gandni Puram, located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.