Guideline Value for GANDHI NAGAR SOCIETY

Gandhi Nagar Society guideline value

The current guideline value of Gandhi Nagar Society, located in Perumbakkam village under the Selaiyur SRO, is Rs 2,725 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Gandhi Nagar Society has changed

In the 2012 revision, the guideline value was set at Rs 2,500 per sq.ft. This value remained unchanged until the 2017 revision, which saw a decrease to Rs 1,675 per sq.ft. However, from 2017 to 2023, the value increased significantly by 49% to reach Rs 2,500 per sq.ft. The most recent revision in 2024 has raised this figure to Rs 2,725 per sq.ft, marking a 9% increase from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 9%.

Guideline values in Perumbakkam

Perumbakkam village has a total of 225 streets under the Selaiyur SRO, with the 2024 guideline values ranging from Rs 850 to Rs 4,800 per sq.ft. The median value for these streets is Rs 2,725 per sq.ft, which is equal to the current guideline value for Gandhi Nagar Society.

• Gandhi Nagar 3rd Cross st, "Verdant Acres": Rs 2,725 per sq.ft (2024)
• Gajendra Nagar 1st to 5th Cross street: Rs 3,300 per sq.ft (2024)
• Gajendra Nagar: Rs 3,300 per sq.ft (2024)
• Gengaiamman Koil Street: Rs 850 per sq.ft (2024)
• Global Avenue: Rs 3,800 per sq.ft (2024)
• Ethiraj street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Nagar Society

For a 1,000 sq.ft plot at the current guideline value of Rs 2,725 per sq.ft, the total guideline value amounts to Rs 27,25,000. The stamp duty at 7% would be Rs 1,90,750, and the registration fee at 2% would be Rs 54,500, totaling Rs 2,45,250. 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 accurate calculations.

Which Sub Registrar Office covers Gandhi Nagar Society?

The Sub Registrar Office that covers Gandhi Nagar Society 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 information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Perumbakkam. It helps determine the stamp duty and registration fees applicable on the transaction, ensuring that both parties are aware of the financial obligations involved.

When a property is sold, the guideline value serves as a benchmark for the minimum price at which the property can be registered. This ensures transparency and fairness in property transactions, protecting the interests of both buyers and sellers.

Frequently asked questions

What is the current guideline value of Gandhi Nagar Society?

The current guideline value of Gandhi Nagar Society is Rs 2,725 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,725 per sq.ft in 2024.

What is the land classification for Gandhi Nagar Society?

Gandhi Nagar Society is classified as Residential Special Type - I, which indicates its designated use for residential purposes.

Where can I find the Selaiyur Sub Registrar Office?

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 the stamp duty calculated for properties in Gandhi Nagar Society?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% based on the guideline value.