Guideline Value for GANDHI NAGAR (PANJALIAMMAN KOIL INSIDE)

Gandhi Nagar (Panjaliamman Koil Inside) guideline value

The current guideline value for Gandhi Nagar (Panjaliamman Koil Inside) is Rs 5,300 per sq.ft, effective from 1 July 2024. This area is located in Arumbakkam village, under the Kodambakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Gandhi Nagar (Panjaliamman Koil Inside) has changed

Over the years, the guideline value for Gandhi Nagar (Panjaliamman Koil Inside) has seen significant changes. The earliest recorded revision in 2007 set the value at Rs 1,050 per sq.ft. This figure increased dramatically to Rs 4,900 per sq.ft in 2012, marking a rise of 367%. However, in 2017, the value decreased to Rs 3,283 per sq.ft, a drop of 33%. The value then rose again to Rs 4,900 per sq.ft in 2023, and currently stands at Rs 5,300 per sq.ft following an 8% increase in the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 figure to the current 2024 value, there has been a substantial increase of 405%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft, with a median value of Rs 6,000 per sq.ft. The guideline value for Gandhi Nagar (Panjaliamman Koil Inside) is below this median.

• Gandhi Nagar I St Street: Rs 5,300 per sq.ft (2024)
• Gandhi Nagar II Nd Street: Rs 5,300 per sq.ft (2024)
• Gandhi Road: Rs 6,000 per sq.ft (2024)
• Gandhi Street (Near Janakiram Colony Extn): Rs 5,300 per sq.ft (2024)
• Frends Avenue: Rs 6,000 per sq.ft (2024)
• Flowers Road (Pookaran Street): Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Nagar (Panjaliamman Koil Inside)

For a 1,000 sq.ft plot at the current guideline value of Rs 5,300 per sq.ft, the total guideline value would be Rs 53,00,000. The stamp duty at 7% would amount to Rs 3,71,000, and the registration fee at 2% would be Rs 1,06,000, bringing the total fees to Rs 4,77,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gandhi Nagar (Panjaliamman Koil Inside)?

The Sub Registrar Office that covers Gandhi Nagar (Panjaliamman Koil Inside) is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Arumbakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration reflects the true value of the transaction, safeguarding the interests of both the buyer and the government.

Frequently asked questions

What is the current guideline value of Gandhi Nagar (Panjaliamman Koil Inside)?

The current guideline value of Gandhi Nagar (Panjaliamman Koil Inside) is Rs 5,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,050 per sq.ft in 2007 to Rs 5,300 per sq.ft in 2024, reflecting an overall increase of 405% over the years.

What is the guideline value range for other streets in Arumbakkam?

The guideline value for other streets in Arumbakkam ranges from Rs 3,300 to Rs 16,500 per sq.ft, with a median value of Rs 6,000 per sq.ft.

Where is the Kodambakkam Sub Registrar Office located?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is stamp duty calculated in Gandhi Nagar (Panjaliamman Koil Inside)?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, on a property valued at Rs 53,00,000, the stamp duty would be Rs 3,71,000 at 7%.