Guideline Value for Durga Nagar Gandhi Street

Durga Nagar Gandhi Street guideline value

The current guideline value of Durga Nagar Gandhi Street is Rs 2,420 per sq.ft. This street is located in Thiruneermalai village and falls under the Pammal SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Durga Nagar Gandhi Street has changed

The guideline value for Durga Nagar Gandhi Street has undergone several revisions over the years. The most recent revision, effective from 1 July 2024, sets the guideline value at Rs 2,420 per sq.ft, an increase of 10% from the 2023 revision of Rs 2,200 per sq.ft. Prior to this, the 2017 revision recorded a value of Rs 1,474 per sq.ft, marking a significant increase of 49% from 2017 to 2023. The register has no figure for this street for the years 2002, 2003, 2007, and 2012.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. The consistent rise in values reflects changes in the local real estate landscape, with the current figure aligning with the median guideline value for the village.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median guideline value is Rs 2,420 per sq.ft, which is equal to the current guideline value of Durga Nagar Gandhi Street.

• Durga Nagar Dhagur Street: Rs 2,420 per sq.ft (2024)
• Durga Nagar Kabilar Street: Rs 2,420 per sq.ft (2024)
• Durga Nagar Bhavaniamman Street: Rs 2,420 per sq.ft (2024)
• Durga Nagar Kamaraj Street: Rs 2,420 per sq.ft (2024)
• Durga Nagar Bharathi Street: Rs 2,420 per sq.ft (2024)
• Durga Nagar Kambar Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Durga Nagar Gandhi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value amounts to Rs 24,20,000. The stamp duty at 7% would be Rs 1,69,400, and the registration fee at 2% would be Rs 48,400. Together, these fees total Rs 2,17,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Durga Nagar Gandhi Street?

The Sub Registrar Office that covers Durga Nagar Gandhi Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Thiruneermalai, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate stamp duty and registration fees, which are mandatory for all transactions.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements and to understand the financial implications of their property transactions. This value serves as a benchmark for the pricing of properties in the area.

Frequently asked questions

What is the current guideline value of Durga Nagar Gandhi Street?

The current guideline value of Durga Nagar Gandhi Street is Rs 2,420 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,474 per sq.ft in 2017 to Rs 2,420 per sq.ft in 2024, marking an overall increase of 64% over the seven-year period.

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

The stamp duty is charged at 7% of the guideline value, and the registration fee is charged at 2%. For example, for a property valued at Rs 24,20,000, the total fees would amount to Rs 2,17,800.

Which office handles the registration for Durga Nagar Gandhi Street?

The Pammal Sub Registrar Office handles the registration for Durga Nagar Gandhi Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification for Durga Nagar Gandhi Street?

Durga Nagar Gandhi Street is classified as Residential Class I Type - I, indicating its suitability for residential development.