Guideline Value for Sanjaygandhi Nagar

Sanjaygandhi Nagar guideline value

The current guideline value of Sanjaygandhi Nagar is Rs 3,900 per sq.ft, effective from 1 July 2024. This area is located in Adambakkam village, under the Alandur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Sanjaygandhi Nagar has changed

The guideline value of Sanjaygandhi Nagar has seen significant revisions over the years. In 2002, the value was Rs 419 per sq.ft, which increased to Rs 478 per sq.ft in 2003. The value then rose to Rs 900 per sq.ft in 2007, followed by a substantial increase to Rs 3,500 per sq.ft in 2012. However, it decreased to Rs 2,345 per sq.ft in 2017, before rising again to Rs 3,500 per sq.ft in 2023. The most recent revision in 2024 has set the value at Rs 3,900 per sq.ft.

Between the revisions, there have been notable changes. From 2002 to 2024, the overall increase is +831%. The increase from 2017 to 2023 was +49%, while the change from 2023 to 2024 is +11%. The years 2012 to 2017 saw a decrease of -33%, and the jump from 2007 to 2012 was +289%. The value increased by +88% from 2003 to 2007, and from 2002 to 2003, the rise was +14%.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, which is the same as the current guideline value for Sanjaygandhi Nagar.

• Sanjay Gandhi Nagar I, II, Street / Lane: Rs 3,900 per sq.ft (2024)
• Sannathi Street: Rs 3,900 per sq.ft (2024)
• Santhi Nagar 10th Street: Rs 4,400 per sq.ft (2024)
• Santhi Nagar 11th Street: Rs 4,400 per sq.ft (2024)
• Santhi Nagar 12th Street: Rs 4,400 per sq.ft (2024)
• Santhi Nagar 2nd Cross Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Sanjaygandhi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 3,900 per sq.ft, the guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total to Rs 3,51,000. It is important to note that the 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 Sanjaygandhi Nagar?

The Sub Registrar Office that covers Sanjaygandhi Nagar is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Adambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, both parties must consider the guideline value to ensure compliance with legal requirements. It is advisable to consult with a legal expert or a real estate professional to understand how the guideline value impacts the transaction process.

Frequently asked questions

What is the current guideline value of Sanjaygandhi Nagar?

The current guideline value of Sanjaygandhi Nagar is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 419 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of +831% over the years.

What is the land classification for Sanjaygandhi Nagar?

Sanjaygandhi Nagar is classified as Residential Class I Type - III.

What are the stamp duty and registration fees for property in Sanjaygandhi Nagar?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000, and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Where is the Sub Registrar Office for Sanjaygandhi Nagar located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.