Guideline Value for Gangadharan Street

Gangadharan Street guideline value

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

How the guideline value of Gangadharan Street has changed

The guideline value for Gangadharan Street has undergone several revisions over the years. The earliest available figure is from 2007, when the guideline value was Rs 400 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in 2012, marking a rise of 275%. However, it then decreased to Rs 1,005 per sq.ft in 2017, a drop of 33%. The value saw a substantial increase to Rs 1,500 per sq.ft in 2023, followed by another increase to Rs 1,650 per sq.ft in 2024, reflecting a 10% rise.

From 2017 to 2023, the guideline value rose by 49%, leading to the current value of Rs 1,650 per sq.ft. Overall, from the 2007 figure to the 2024 figure, there has been a significant increase of 313%. 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 Street's 2024 figure above this median.

• Gangadharan 1st 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 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, bringing the total to 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 Gangadharan Street?

The Sub Registrar Office that covers Gangadharan 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 plays a crucial role in the registration process of property transactions in Puzhal. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property in the area. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

When selling property, the guideline value can influence the sale price, as it provides a benchmark for both buyers and sellers. It is essential for both parties to be aware of the current guideline value to facilitate a transparent and fair transaction.

Frequently asked questions

What is the current guideline value of Gangadharan Street?

The current guideline value of Gangadharan 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, reflecting an overall increase of 313% over the years.

What is the stamp duty for property in Gangadharan Street?

The stamp duty for property in Gangadharan Street is 7% of the guideline value. For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500.

Which office handles property registration for Gangadharan Street?

The Redhills Sub Registrar Office handles property registration for Gangadharan Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the median guideline value in Puzhal?

The median guideline value in Puzhal is Rs 1,102 per sq.ft, with Gangadharan Street's current value being above this median.