Guideline Value for Sanjay Gandhi Nagar 1st street

Sanjay Gandhi Nagar 1st street guideline value

The current guideline value of Sanjay Gandhi Nagar 1st street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the Royapuram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Sanjay Gandhi Nagar 1st street has changed

Over the years, the guideline value of Sanjay Gandhi Nagar 1st street has seen several revisions. The 2007 revision set the value at Rs 600 per sq.ft, which increased to Rs 804 per sq.ft in 2017. This was a significant rise of 34%. The value then jumped to Rs 1,200 per sq.ft in 2023, marking a 49% increase from the previous revision. The latest revision in 2024 has further increased the guideline value to Rs 1,300 per sq.ft, reflecting an 8% rise from 2023.

It is important to note that there are no figures available for the years 2002, 2003, and 2012 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 117%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1384 streets under the Royapuram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft, with a median of Rs 1,600 per sq.ft. The guideline value for Sanjay Gandhi Nagar 1st street is below this median.

• Sanjay Gandhi Nagar 2nd street: Rs 1,300 per sq.ft (2024)
• Sanjay Gandhi Nagar 3rd street: Rs 1,300 per sq.ft (2024)
• Sanjay Gandhi Nagar 4th street: Rs 1,300 per sq.ft (2024)
• Sanjay Gandhi Nagar 5th street: Rs 1,300 per sq.ft (2024)
• Sanjay Gandhi Nagar 6th street: Rs 1,300 per sq.ft (2024)
• Sanjai Gandhi Nagar Main Road: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sanjay Gandhi Nagar 1st street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees together to Rs 1,17,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sanjay Gandhi Nagar 1st street?

The Sub Registrar Office that covers Sanjay Gandhi Nagar 1st street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Tondaiarpet. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees applicable during the transaction.

When a property is sold, the actual sale price or the guideline value, whichever is higher, will be the basis for calculating these fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sanjay Gandhi Nagar 1st street?

The current guideline value of Sanjay Gandhi Nagar 1st street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 600 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, with several revisions in between, including Rs 804 in 2017 and Rs 1,200 in 2023.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 13,00,000, the stamp duty is Rs 91,000, and the registration fee is Rs 26,000, totaling Rs 1,17,000. Fees are based on the higher of the guideline value or the sale price.

Which office handles property registrations for Sanjay Gandhi Nagar 1st street?

The Royapuram Sub Registrar Office handles property registrations for Sanjay Gandhi Nagar 1st street, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What is the land classification for Sanjay Gandhi Nagar 1st street?

Sanjay Gandhi Nagar 1st street is classified as Residential Class II Type - I, indicating its suitability for residential development.