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Guideline Value

Corporate

Guideline Value for GANDHI NAGAR 3RD STREET

₹4400/sq.ft.

The guideline value for Gandhi Nagar 3rd Street in Palavakkam village (Neelankarai SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. It was Rs 4000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Palavakkam

Village

Neelankarai

SRO

Residential Class I Type - II
History
Period Guideline Value
From 1-7-2024 ₹4400 /sq.ft.
From 1-4-2023 ₹4000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2680 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹4000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1200 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹386 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹345 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41
044-24490134
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Gandhi Nagar 3rd Street

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Gandhi Nagar 3rd Street guideline value

The current guideline value of Gandhi Nagar 3rd Street in Palavakkam village, under the Neelankarai SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class I Type - II.

How the guideline value of Gandhi Nagar 3rd Street has changed

The guideline value for Gandhi Nagar 3rd Street has seen several revisions over the years. In 2002, the value was Rs 345 per sq.ft, which increased to Rs 386 per sq.ft in 2003. Following this, the value rose significantly to Rs 1,200 per sq.ft in 2007, and then to Rs 4,000 per sq.ft in 2012. However, it decreased to Rs 2,680 per sq.ft in 2017. The value then increased to Rs 4,000 per sq.ft in 2023, and finally reached Rs 4,400 per sq.ft in the 2024 revision.

Notably, the changes between the revisions indicate a +10% increase from 2023 to 2024, a +49% increase from 2017 to 2023, a -33% decrease from 2012 to 2017, a +233% increase from 2007 to 2012, and a +211% increase from 2003 to 2007. The overall change from 2002 to 2024 is +1175%. There are no figures available for any other revisions for this street.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Gandhi Nagar 3rd Street's 2024 figure above this median.

Stamp duty and registration fee for property in Gandhi Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. 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 details.

Which Sub Registrar Office covers Gandhi Nagar 3rd Street?

The Sub Registrar Office that covers Gandhi Nagar 3rd Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process of property transactions in Palavakkam. It serves as a reference point for determining the minimum value at which a property can be registered, ensuring that the transaction is transparent and fair.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. These fees are based on the higher of the guideline value or the actual sale price, which ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Gandhi Nagar 3rd Street?

The current guideline value for Gandhi Nagar 3rd Street is Rs 4,400 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 345 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting a total increase of 1175% over this period.

What is the land classification for Gandhi Nagar 3rd Street?

Gandhi Nagar 3rd Street is classified as Residential Class I Type - II, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Where can I find the Sub Registrar Office for Gandhi Nagar 3rd Street?

The Neelankarai Sub Registrar Office covers Gandhi Nagar 3rd Street and is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.