Guideline Value for SANJAY GANDHI NAGAR 2ND CORSS

Sanjay Gandhi Nagar 2nd Corss guideline value

The current guideline value for Sanjay Gandhi Nagar 2nd Corss is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Perumalagaram village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Sanjay Gandhi Nagar 2nd Corss has changed

Over the years, the guideline value for Sanjay Gandhi Nagar 2nd Corss has seen several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, which was a decrease of 33% from the previous figure of Rs 1,675 per sq.ft in 2017. The 2023 revision raised the value to Rs 2,500 per sq.ft, before the current 2024 revision increased it to Rs 2,750 per sq.ft, marking a 10% increase from the previous year.

From the 2012 revision to the 2024 revision, the overall change is a modest increase of 10%. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Perumalagaram

In Perumalagaram, there are 74 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 825 to Rs 7,920 per sq.ft, with a median value of Rs 3,190 per sq.ft. The guideline value of Sanjay Gandhi Nagar 2nd Corss is below this median.

• Sanjay Gandhi Nagar 1st Cross: Rs 2,750 per sq.ft (2024)
• Sanjay Gandhi Nagar: Rs 2,750 per sq.ft (2024)
• Sanjay Gandhi Nagar Main Road: Rs 2,750 per sq.ft (2024)
• Santhana Lakshmi Street: Rs 3,190 per sq.ft (2024)
• Sathyabama Street: Rs 3,190 per sq.ft (2024)
• Sathya Narayanan Street: Rs 3,190 per sq.ft (2024)

Stamp duty and registration fee for property in Sanjay Gandhi Nagar 2nd Corss

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, resulting in a total of Rs 2,47,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sanjay Gandhi Nagar 2nd Corss?

The Sub Registrar Office that covers Sanjay Gandhi Nagar 2nd Corss is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for further assistance.

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

The guideline value is a critical factor in the registration process when buying or selling property in Perumalagaram. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is recorded accurately and fairly.

When a property is sold, the guideline value helps to determine the appropriate fees that need to be paid at the time of registration. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations and to avoid any potential disputes during the transaction.

Frequently asked questions

What is the current guideline value for Sanjay Gandhi Nagar 2nd Corss?

The current guideline value for Sanjay Gandhi Nagar 2nd Corss is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024, marking a 10% increase. The value was Rs 1,675 per sq.ft in 2017 and Rs 2,500 per sq.ft in 2012.

What is the land classification for Sanjay Gandhi Nagar 2nd Corss?

The land classification for Sanjay Gandhi Nagar 2nd Corss is Residential Class I Type - II.

Where can I find the registration office for Sanjay Gandhi Nagar 2nd Corss?

The registration office for Sanjay Gandhi Nagar 2nd Corss is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in Sanjay Gandhi Nagar 2nd Corss?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 1,92,500.