Guideline Value for GANDHI NAGAR EXTENSION

Gandhi Nagar Extension guideline value

The current guideline value of Gandhi Nagar Extension is Rs 1,950 per sq.ft, effective from 1 July 2024. This area is located in Ottiyampakkam village under the Selaiyur SRO, classified as Residential Class I Type - I.

How the guideline value of Gandhi Nagar Extension has changed

The guideline value for Gandhi Nagar Extension has seen several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which was then reduced to Rs 1,206 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,800 per sq.ft in 2023, and it has now risen to Rs 1,950 per sq.ft in the 2024 revision. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023, followed by an 8% increase from 2023 to 2024. When looking at the overall change from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Ottiyampakkam

In Ottiyampakkam, there are 88 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 4,300 per sq.ft. The median value for these streets is Rs 1,950 per sq.ft, which is equal to the current guideline value of Gandhi Nagar Extension.

• Gandhi Nagar Main Road: Rs 1,950 per sq.ft (2024)
• Gandhi Nagar: Rs 1,950 per sq.ft (2024)
• Fairy Land Agriya: Rs 3,200 per sq.ft (2024)
• Elite Acres: Rs 1,800 per sq.ft (2024)
• Casa Grand Sereno: Rs 3,200 per sq.ft (2024)
• Jones Cassia: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 1,950 per sq.ft, the total guideline value amounts to Rs 19,50,000. The stamp duty at 7% would be Rs 1,36,500, and the registration fee at 2% would be Rs 39,000, bringing the total fees together to Rs 1,75,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gandhi Nagar Extension?

The Sub Registrar Office covering Gandhi Nagar Extension is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration of property transactions in Ottiyampakkam. When a property is bought or sold, the guideline value is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

It is essential for buyers and sellers to be aware of the current guideline value, as it can significantly impact the overall costs involved in property transactions. Ensuring that the transaction is registered at the correct guideline value helps in maintaining transparency and legality in property dealings.

Frequently asked questions

What is the current guideline value of Gandhi Nagar Extension?

The current guideline value of Gandhi Nagar Extension is Rs 1,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then increased to Rs 1,800 per sq.ft in 2023, and is now Rs 1,950 per sq.ft in 2024.

What is the land classification for Gandhi Nagar Extension?

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

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Gandhi Nagar Extension?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty of Rs 1,36,500.