Guideline Value for MAHATMA GANDHI 1st CROSS STREET

MAHATMA GANDHI 1st CROSS STREET guideline value

The current guideline value of MAHATMA GANDHI 1st CROSS STREET is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Karapakkam village under the Neelankarai SRO and is classified as Residential Class II Type - II.

How the guideline value of MAHATMA GANDHI 1st CROSS STREET has changed

The guideline value for MAHATMA GANDHI 1st CROSS STREET has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value increased to Rs 2,000 per sq.ft in 2023, and the most recent revision in 2024 raised it to Rs 2,200 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows a modest increase of 10%.

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 10,700 per sq.ft, with a median value of Rs 1,700 per sq.ft. The guideline value for MAHATMA GANDHI 1st CROSS STREET is above this median.

• MAHATMA GANDHI 2nd CROSS STREET: Rs 2,200 per sq.ft (2024)
• Mahatma Gandhi Street: Rs 2,200 per sq.ft (2024)
• Mahar Computer Systems: Rs 2,200 per sq.ft (2024)
• Madhurai Street: Rs 1,100 per sq.ft (2024)
• Manimekalai Nagar: Rs 1,700 per sq.ft (2024)
• L.V.2nd STREET: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in MAHATMA GANDHI 1st CROSS STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, while the registration fee at 2% would amount to Rs 44,000. Together, the total cost for stamp duty and registration would be Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For further details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers MAHATMA GANDHI 1st CROSS STREET?

The MAHATMA GANDHI 1st CROSS STREET falls under the Neelankarai Sub Registrar Office located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Karapakkam. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these charges are based on a standard value set by the government.

When buying or selling property, the guideline value helps both parties understand the minimum value for which the property can be registered. This ensures transparency and compliance with legal requirements during the transaction process.

Frequently asked questions

What is the current guideline value for MAHATMA GANDHI 1st CROSS STREET?

The current guideline value for MAHATMA GANDHI 1st CROSS STREET is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for MAHATMA GANDHI 1st CROSS STREET?

MAHATMA GANDHI 1st CROSS STREET is classified as Residential Class II Type - II.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.