Guideline Value for GANDHI NAGAR

Gandhi Nagar guideline value

The current guideline value of Gandhi Nagar, located in Iyyappanthangal village, is Rs 1,650 per sq.ft. This value is effective from the 2024 revision, which falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Gandhi Nagar has changed

The guideline value for Gandhi Nagar has undergone several revisions over the years. The earliest recorded figure in the register is from 2007, where the value was Rs 300 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in 2012, marking a 400% rise. However, in 2017, the value adjusted to Rs 1,005 per sq.ft, reflecting a decrease of 33%. By 2023, the value rose to Rs 1,500 per sq.ft, and in the latest 2024 revision, it increased to Rs 1,650 per sq.ft, representing a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 450%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Iyyappanthangal

In Iyyappanthangal, there are 134 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 5,610 per sq.ft. The median guideline value for the area is Rs 2,200 per sq.ft, placing Gandhi Nagar's current value below this median.

• E.V.P. Park Avenue 2nd Main Road: Rs 2,750 per sq.ft (2024)
• E.V.P. Park Avenue 1st Main Road: Rs 2,750 per sq.ft (2024)
• E.V.P. Park Avenue: Rs 2,750 per sq.ft (2024)
• Gangai Amman Koil Street: Rs 1,650 per sq.ft (2024)
• Durgai Amman Koil Street: Rs 1,650 per sq.ft (2024)
• Dhanalskhmi Nagar Phase II: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total cost for these fees Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Gandhi Nagar?

The Sub Registrar Office that covers Gandhi Nagar 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 information.

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

The guideline value is a crucial factor in the registration process for buying or selling property in Iyyappanthangal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the correct amount of revenue based on the property's value at the time of sale.

Frequently asked questions

What is the current guideline value of Gandhi Nagar?

The current guideline value of Gandhi Nagar is Rs 1,650 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has increased from Rs 300 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, showing a significant rise over the years with various adjustments in between.

What is the land classification for Gandhi Nagar?

The land classification for Gandhi Nagar is Residential Class IV Type - I, indicating its suitability for residential development.

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

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500 for these fees.

Which Sub Registrar Office covers Gandhi Nagar?

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