Guideline Value for Gangadaran Street

Gangadaran Street guideline value

The current guideline value of Gangadaran Street in Puzhal village, under the Redhills SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Gangadaran Street has changed

The guideline value for Gangadaran Street has undergone several revisions over the years. In the 2002 revision, the value was Rs 1,264 per sq.ft. This figure saw a significant decrease in the 2003 revision, dropping to Rs 128 per sq.ft, followed by a substantial increase in the 2007 revision to Rs 400 per sq.ft. The value then rose dramatically to Rs 1,500 per sq.ft in the 2012 revision, only to decrease again to Rs 1,005 per sq.ft in the 2017 revision. The 2023 revision set the value at Rs 1,500 per sq.ft, leading to a final increase to Rs 1,650 per sq.ft in the 2024 revision, marking a 10% rise from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 31%. Notably, there are no figures available for the revisions in years other than those listed, ensuring clarity in the historical pricing of this street.

Guideline values in Puzhal

In Puzhal, there are 270 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 1,102 per sq.ft. The guideline value for Gangadaran Street is above this median, indicating its relative position within the village.

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

Stamp duty and registration fee for property in Gangadaran Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be 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.

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

Which Sub Registrar Office covers Gangadaran Street?

The Sub Registrar Office covering Gangadaran 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 further assistance.

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

The guideline value plays a crucial role in the registration process of property transactions in Puzhal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers must be aware that these charges are based on the guideline value or the sale price, whichever is higher, to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Gangadaran Street?

The current guideline value of Gangadaran 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 for Gangadaran Street has changed multiple times, with the most recent increase being from Rs 1,500 per sq.ft in 2023 to Rs 1,650 per sq.ft in 2024, a 10% rise.

What is the land classification of Gangadaran Street?

Gangadaran Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property transactions?

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.

Where is the Sub Registrar Office for Gangadaran Street located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.