Guideline Value for Gangadharan 1st Street

Gangadharan 1st Street guideline value

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

How the guideline value of Gangadharan 1st Street has changed

The guideline value for Gangadharan 1st Street has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 400 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012, marking a 275% rise. However, it then decreased to Rs 1,005 per sq.ft in 2017, a drop of 33% from the previous figure. The value continued to rise, reaching Rs 1,500 per sq.ft in 2023 and then increasing to Rs 1,650 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, the value increased by 49%. The overall change from 2007 to 2024 shows a substantial increase of 313%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Puzhal

Puzhal village has a total of 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 in this area is Rs 1,102 per sq.ft, placing Gangadharan 1st Street's 2024 figure above this median.

• Gangadharan Street: Rs 1,650 per sq.ft (2024)
• Gangadaran 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 Gangadharan 1st Street

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the 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, making the total cost Rs 1,48,500. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gangadharan 1st Street?

The Sub Registrar Office that covers Gangadharan 1st 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 in property transactions in Puzhal, as it determines the minimum value at which a property can be registered. When buying or selling property, this value is used to calculate the stamp duty and registration fees, ensuring that all transactions are conducted fairly and transparently.

It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process. This value serves as a benchmark for assessing property prices in the area.

Frequently asked questions

What is the current guideline value of Gangadharan 1st Street?

The current guideline value of Gangadharan 1st 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, showing a significant increase of 313% overall.

What is the registration office for Gangadharan 1st Street?

The registration office for Gangadharan 1st Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Puzhal?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 at a rate of 7%.

What is the median guideline value in Puzhal?

The median guideline value in Puzhal is Rs 1,102 per sq.ft, with Gangadharan 1st Street's 2024 figure of Rs 1,650 per sq.ft being above this median.