Guideline Value for GANDHI NAGAR MAIN ROAD

Gandhi Nagar Main Road guideline value

The current guideline value of Gandhi Nagar Main Road is Rs 8,250 per sq.ft, effective from 1 July 2024. This street is located in Ekkaduthangal village and falls under the Chennai South Joint I SRO. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Gandhi Nagar Main Road has changed

The guideline value for Gandhi Nagar Main Road has seen significant changes over the years. In the 2002 revision, the value was Rs 527 per sq.ft. This increased to Rs 608 per sq.ft in 2003, marking a rise of 15%. The 2007 revision saw a substantial jump to Rs 1,100 per sq.ft, which was an increase of 81%. Following that, the value rose dramatically to Rs 7,500 per sq.ft in 2012, reflecting a 582% increase. However, in the 2017 revision, the value decreased to Rs 5,025 per sq.ft, a decline of 33%. The value then increased again to Rs 7,500 per sq.ft in 2023, followed by the current value of Rs 8,250 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1465%. The register has no figure for this street in the years not mentioned in the revisions listed above.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 3,080 to Rs 8,800 per sq.ft. The median value for these streets is Rs 4,620 per sq.ft, placing Gandhi Nagar Main Road's 2024 figure above that median.

• Gandhi Nagar Extn.: Rs 3,520 per sq.ft (2024)
• Ganapathy Nagar (Union Carbiod Backside): Rs 4,620 per sq.ft (2024)
• Ganapathy Nagar Ist Street: Rs 5,500 per sq.ft (2024)
• Ganapathy Nagar II Street: Rs 3,520 per sq.ft (2024)
• Ganapathy Colony (Near Vandipattai): Rs 4,620 per sq.ft (2024)
• Ganapathy Colony Ist Cros Street: Rs 4,620 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 8,250 per sq.ft, the total guideline value would be Rs 82,50,000. The stamp duty at 7% would be Rs 5,77,500, and the registration fee at 2% would be Rs 1,65,000, making the total fees together Rs 7,42,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Gandhi Nagar Main Road?

The Sub Registrar Office that covers Gandhi Nagar Main Road is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Ekkaduthangal. It serves as the basis for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately with the government.

When a property is sold, the higher value between the guideline value and the sale price is used to determine the applicable duties. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Gandhi Nagar Main Road?

The current guideline value of Gandhi Nagar Main Road is Rs 8,250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 527 per sq.ft in 2002 to Rs 8,250 per sq.ft in 2024, marking an overall increase of 1465% over this period.

What are the stamp duty and registration fees for property in Gandhi Nagar Main Road?

For a property valued at Rs 82,50,000, the stamp duty would be Rs 5,77,500 and the registration fee would be Rs 1,65,000, totaling Rs 7,42,500.

Which Sub Registrar Office covers Gandhi Nagar Main Road?

The Chennai South Joint I Sub Registrar Office covers Gandhi Nagar Main Road, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the land classification for Gandhi Nagar Main Road?

The land classification for Gandhi Nagar Main Road is Commercial Class I Type - I, indicating its suitability for commercial activities.