Guideline Value for Sanjai Gandhi Street

Sanjai Gandhi Street guideline value

The current guideline value of Sanjai Gandhi 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 Sanjai Gandhi Street has changed

The guideline value for Sanjai Gandhi Street has undergone several revisions over the years. The earliest available figure is from 2007, where the value was Rs 800 per sq.ft. This figure increased significantly to Rs 3,000 per sq.ft in 2012, marking a 275% rise. However, it then decreased to Rs 2,010 per sq.ft in 2017, a drop of 33%. The value rebounded to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft as of the 2024 revision, reflecting a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 in the register for Sanjai Gandhi Street. Overall, from 2007 to 2024, the guideline value has increased by 313%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, which means Sanjai Gandhi Street's current value is below this median.

• Sangeetha Colony: Rs 7,700 per sq.ft (2024)
• Sanjay Gandhi Salai S.No.394: Rs 3,300 per sq.ft (2024)
• Sangaralinganar Street S.No. 400/B, 406/B: Rs 3,300 per sq.ft (2024)
• Sannathi Street Block 6: Rs 6,600 per sq.ft (2024)
• Samiyar Thottam Street: Rs 7,000 per sq.ft (2024)
• Samburna Avenue: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sanjai Gandhi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty is charged at 7%, which totals Rs 2,31,000, and the registration fee is 2%, amounting to Rs 66,000. The total cost for these fees together is Rs 2,97,000. Please note that 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 details.

Which Sub Registrar Office covers Sanjai Gandhi Street?

The Sub Registrar Office that covers Sanjai Gandhi Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is an important factor in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the taxes are based on a standardized valuation of the property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties. This process helps maintain transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Sanjai Gandhi Street?

The current guideline value of Sanjai Gandhi 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 800 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 313% over this period.

What is the median guideline value in Kodambakkam?

The median guideline value in Kodambakkam is Rs 4,900 per sq.ft, which is higher than the current value of Sanjai Gandhi Street.

What fees are associated with property transactions in Sanjai Gandhi Street?

For a property valued at Rs 33,00,000, the stamp duty is Rs 2,31,000 and the registration fee is Rs 66,000, totaling Rs 2,97,000.

Which office handles property registrations for Sanjai Gandhi Street?

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