Guideline Value for Gundalakesi Street

Gundalakesi Street guideline value

The current guideline value of Gundalakesi Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, classified as Residential Class IV Type - II.

How the guideline value of Gundalakesi Street has changed

Over the years, the guideline value of Gundalakesi Street has seen significant changes. In the 2007 revision, the value was Rs 620 per sq.ft. This increased to Rs 3,000 per sq.ft in 2012, marking a 384% rise. However, in the 2017 revision, the value dropped to Rs 2,010 per sq.ft, a decrease of 33%. The value then increased to Rs 3,000 per sq.ft in 2023, followed by a further increase to Rs 3,300 per sq.ft in the 2024 revision, which is a 10% rise from the previous year.

It is important to note that there are no figures available for Gundalakesi Street in the 2002 and 2003 revisions. Overall, from 2007 to 2024, the guideline value has increased by 432%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, placing Gundalakesi Street's 2024 figure below that median.

• Guindy Rathinam Street: Rs 4,100 per sq.ft (2024)
• Gurusev Street (S.M.Block): Rs 4,100 per sq.ft (2024)
• Govindhachari Salai: Rs 3,300 per sq.ft (2024)
• Govindasamy Street (M.G.R.Nagar): Rs 3,300 per sq.ft (2024)
• Govindasamy Street (JPT): Rs 4,900 per sq.ft (2024)
• Govindan Street Block 62: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Gundalakesi Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Gundalakesi Street?

The Sub Registrar Office that covers Gundalakesi Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). For more details, you can find your SRO.

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

The guideline value plays a crucial role in property transactions in Kodambakkam. It is used to determine the stamp duty and registration fees that are applicable when a property is bought or sold. Buyers and sellers must be aware of the guideline value to ensure compliance with the legal requirements during the registration process.

Additionally, the guideline value serves as a benchmark for property prices in the area. It helps in assessing the fair value of properties and ensures transparency in real estate transactions.

Frequently asked questions

What is the current guideline value of Gundalakesi Street?

The current guideline value of Gundalakesi Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 620 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 432%.

What is the median guideline value in Kodambakkam?

The median guideline value for streets in Kodambakkam is Rs 4,900 per sq.ft, with Gundalakesi Street's 2024 figure being below this median.

What are the stamp duty and registration fees for Gundalakesi Street?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 2,97,000, based on the current guideline value.

Which office handles registrations for Gundalakesi Street?

The Ashok Nagar Sub Registrar Office handles registrations for Gundalakesi Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.