Guideline Value for GANDHI NAGAR EXTN

Gandhi Nagar Extn guideline value

The current guideline value of Gandhi Nagar Extn in Athipattu village is Rs 330 per sq.ft, effective from 1 July 2024. This area falls under the Thiruvottiyur SRO and is classified as Residential Class I Type - I.

How the guideline value of Gandhi Nagar Extn has changed

Over the years, the guideline value of Gandhi Nagar Extn has seen several revisions. The 2017 revision set the value at Rs 201 per sq.ft, which increased to Rs 300 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 has further increased the guideline value to Rs 330 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. Notably, the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Athipattu

Athipattu village has a total of 108 streets under the Thiruvottiyur SRO, with the 2024 guideline values ranging from Rs 220 to Rs 462 per sq.ft. The median value for these streets is Rs 330 per sq.ft, which is also the current guideline value for Gandhi Nagar Extn.

• Gandhi Nagar: Rs 330 per sq.ft (2024)
• Gandhi Street: Rs 330 per sq.ft (2024)
• Ganapathy Nagar: Rs 330 per sq.ft (2024)
• E.V.K. Sampath Nagar: Rs 330 per sq.ft (2024)
• Geetha Nagar: Rs 330 per sq.ft (2024)
• Geroge Nagar: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Nagar Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 330 per sq.ft, the total guideline value amounts to Rs 3,30,000. The stamp duty, calculated at 7%, would be Rs 23,100, while the registration fee at 2% would be Rs 6,600. Therefore, the total cost for stamp duty and registration fees would be Rs 29,700. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gandhi Nagar Extn?

The Sub Registrar Office that covers Gandhi Nagar Extn is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Athipattu. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with local regulations.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Gandhi Nagar Extn?

The current guideline value for Gandhi Nagar Extn is Rs 330 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 201 per sq.ft in 2017 to Rs 330 per sq.ft in 2024, marking an overall increase of 64% over this period.

What are the stamp duty rates applicable in Gandhi Nagar Extn?

The stamp duty rate in Gandhi Nagar Extn is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which office handles property registration in Gandhi Nagar Extn?

The Thiruvottiyur Sub Registrar Office is responsible for property registration in Gandhi Nagar Extn, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

Are there other streets with the same guideline value in Athipattu?

Yes, several other streets in Athipattu have the same guideline value of Rs 330 per sq.ft for 2024, including Gandhi Nagar, Gandhi Street, Ganapathy Nagar, E.V.K. Sampath Nagar, Geetha Nagar, and Geroge Nagar.