Guideline Value for Chandran Street (Gandhi Nagar)

Chandran Street (Gandhi Nagar) guideline value

The current guideline value of Chandran Street (Gandhi Nagar) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Chandran Street (Gandhi Nagar) has changed

The guideline value for Chandran Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023 and further to Rs 2,200 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%, while the 2012 to 2017 period experienced a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO, with guideline values in 2024 ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value in this area is Rs 2,700 per sq.ft, indicating that the 2024 figure for Chandran Street is below this median.

• Chandran Street 7th Lane (Teacher's Colony): Rs 2,700 per sq.ft (2024)
• Chandran Cross Street (Teacher's Colony): Rs 2,700 per sq.ft (2024)
• Chandrasekaran Nagar: Rs 2,700 per sq.ft (2024)
• Chandra Sekar Nagar 1st Street: Rs 1,900 per sq.ft (2024)
• Chandra Sekar Nagar 2nd Street: Rs 1,900 per sq.ft (2024)
• Chandra Sekar Nagar 3rd Street: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Chandran Street (Gandhi Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total cost for these fees Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more accurate estimates.

Which Sub Registrar Office covers Chandran Street (Gandhi Nagar)?

The Sub Registrar Office that covers Chandran Street (Gandhi Nagar) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit this link.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must ensure that the sale price is either equal to or greater than the guideline value. This ensures that the appropriate fees are calculated based on the higher amount, thereby adhering to the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Chandran Street (Gandhi Nagar)?

The current guideline value of Chandran Street (Gandhi Nagar) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What are the other streets in Kodungaiyur and their guideline values?

Other streets in Kodungaiyur include Chandran Street 7th Lane, Chandran Cross Street, and Chandrasekaran Nagar, all valued at Rs 2,700 per sq.ft in 2024, while Chandra Sekar Nagar 1st, 2nd, and 3rd Streets are valued at Rs 1,900 per sq.ft.

Where can I find the Sub Registrar Office for Chandran Street?

The Sub Registrar Office for Chandran Street (Gandhi Nagar) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Kodungaiyur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty at 7% would be Rs 1,54,000.