Guideline Value for Sanjay Gandhi Street

Sanjay Gandhi Street guideline value

The current guideline value of Sanjay Gandhi Street is Rs 2,640 per sq.ft, effective from 1 July 2024. This street is located in Perungalathur village under the Padappai SRO, classified as Residential Class I Type - I.

How the guideline value of Sanjay Gandhi Street has changed

Over the years, the guideline value for Sanjay Gandhi Street has seen significant changes. The 2007 revision set the value at Rs 250 per sq.ft, which then increased dramatically to Rs 2,400 per sq.ft in 2012, marking an increase of 860%. However, the value dropped to Rs 1,608 per sq.ft in 2017, a decrease of 33%. The 2023 revision raised it to Rs 2,400 per sq.ft, and the most recent 2024 revision has set it at Rs 2,640 per sq.ft, reflecting a 10% increase from the previous year.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 956%.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO, with guideline values ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median guideline value is Rs 2,310 per sq.ft, placing the 2024 figure for Sanjay Gandhi Street above this median.

• Sanjay Nagar: Rs 2,310 per sq.ft (2024)
• Sankaralaya Apartments: Rs 2,640 per sq.ft (2024)
• Santhosh Nagar: Rs 1,650 per sq.ft (2024)
• Saranga Avenue: Rs 2,310 per sq.ft (2024)
• Saraswathi Nagar: Rs 2,970 per sq.ft (2024)
• Saravanabawa Nagar: Rs 2,310 per sq.ft (2024)

Stamp duty and registration fee for property in Sanjay Gandhi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,640 per sq.ft, the total guideline value amounts to Rs 26,40,000. The stamp duty at 7% would be Rs 1,84,800, and the registration fee at 2% would be Rs 52,800, bringing the total cost for these fees to Rs 2,37,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Sanjay Gandhi Street?

The Sub Registrar Office that covers Sanjay Gandhi Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is an essential factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Perungalathur, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on the official valuation rather than the sale price alone.

It is crucial for buyers and sellers to be aware of the guideline value when engaging in property transactions, as it affects the overall cost of registration. This ensures compliance with local regulations and helps avoid any legal complications during the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Sanjay Gandhi Street?

The current guideline value of Sanjay Gandhi Street is Rs 2,640 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 2,640 per sq.ft in 2024, showing a significant increase of 956% over the years.

What is the median guideline value in Perungalathur?

The median guideline value in Perungalathur is Rs 2,310 per sq.ft, which is below the current value of Sanjay Gandhi Street.

What fees are associated with buying property on Sanjay Gandhi Street?

When buying property on Sanjay Gandhi Street, the stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 2,37,600.

Where is the Sub Registrar Office for Sanjay Gandhi Street located?

The Sub Registrar Office for Sanjay Gandhi Street is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.