Guideline Value for GANDHI NAGAR I ST STREET

Gandhi Nagar I St Street guideline value

The current guideline value of Gandhi Nagar I St Street is Rs 5,300 per sq.ft, effective from 1 July 2024. This street 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 I St Street has changed

The guideline value for Gandhi Nagar I St Street has undergone several revisions over the years. In 2007, the value was Rs 1,050 per sq.ft. This increased significantly to Rs 4,900 per sq.ft in 2012, marking a rise of 367%. However, from 2012 to 2017, the value decreased to Rs 3,283 per sq.ft, which is a decline of 33%. The value then rose sharply to Rs 4,900 per sq.ft in 2023, reflecting an increase of 49%. The latest revision in 2024 has set the guideline value at Rs 5,300 per sq.ft, an 8% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 405%.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO, with guideline values ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median guideline value in this area is Rs 6,000 per sq.ft, indicating that the value for Gandhi Nagar I St Street is below the median.

• Gandhi Nagar II Nd Street: Rs 5,300 per sq.ft (2024)
• Gandhi Nagar (Panjaliamman Koil Inside): 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 I St Street

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

Which Sub Registrar Office covers Gandhi Nagar I St Street?

The Sub Registrar Office that covers Gandhi Nagar I St Street 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 during the registration of property transactions in Arumbakkam. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Gandhi Nagar I St Street?

The current guideline value of Gandhi Nagar I St Street 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 seen multiple revisions, increasing from Rs 1,050 per sq.ft in 2007 to Rs 5,300 per sq.ft in 2024, marking an overall increase of 405%.

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

For a property valued at Rs 53,00,000, the stamp duty would be Rs 3,71,000 and the registration fee would be Rs 1,06,000, totaling Rs 4,77,000.

Which office handles registrations for Gandhi Nagar I St Street?

The Kodambakkam Sub Registrar Office handles registrations for Gandhi Nagar I St Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What is the land classification for Gandhi Nagar I St Street?

Gandhi Nagar I St Street is classified as Residential Class II Type - I, which influences its guideline value and usage for property transactions.