Guideline Value for Sanjay Gandhi Nagar 2nd street

Sanjay Gandhi Nagar 2nd street guideline value

The current guideline value of Sanjay Gandhi Nagar 2nd street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village and falls under the Royapuram SRO. The land classification for this area is Residential Class II Type - I.

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

The guideline value for Sanjay Gandhi Nagar 2nd street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,300 per sq.ft, which is an increase of 8% from the 2023 revision of Rs 1,200 per sq.ft. Prior to that, in 2017, the value was Rs 804 per sq.ft, reflecting a significant increase of 49% over the six years leading up to 2023. The 2007 revision recorded a value of Rs 600 per sq.ft, marking a 34% increase from 2007 to 2017. Overall, from 2007 to 2024, the guideline value has increased by 117%.

It is important to note that the register has no figures for the years 2002, 2003, and 2012 for this street. This lack of data means that the changes in guideline value during those years are not available for review.

Guideline values in Tondaiarpet

In Tondaiarpet village, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, indicating that the 2024 figure for Sanjay Gandhi Nagar 2nd street is below this median.

• Sanjay Gandhi Nagar 3rd street: Rs 1,300 per sq.ft (2024)
• Sanjay Gandhi Nagar 1st 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)
• Sanjay Gandhi Street(Moopanar Nagar): Rs 1,300 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000. Together, the total cost for these fees would be Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

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

The Sanjay Gandhi Nagar 2nd street is covered by 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 plays a crucial role in the registration process of property transactions in Tondaiarpet. It serves as a reference point for determining the stamp duty and registration fees that must be paid when a property is bought or sold. The fees are calculated based on the guideline value or the sale price, whichever is higher.

When purchasing property, buyers should be aware that the guideline value can influence the total cost of the transaction. It is essential to consider the guideline value to ensure compliance with registration requirements and to avoid any unexpected costs during the buying or selling process.

Frequently asked questions

What is the current guideline value of Sanjay Gandhi Nagar 2nd street?

The current guideline value of Sanjay Gandhi Nagar 2nd 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, marking an overall increase of 117%. The most recent increase was from Rs 1,200 per sq.ft in 2023 to Rs 1,300 per sq.ft in 2024.

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

The registration office for Sanjay Gandhi Nagar 2nd street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What are the stamp duty and registration fees for property transactions?

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

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

The land classification for Sanjay Gandhi Nagar 2nd street is Residential Class II Type - I, which is important for understanding the regulations and potential uses of the property.