Guideline Value for GANDHI NAGAR

Gandhi Nagar guideline value

The current guideline value of Gandhi Nagar, located in Puliyur village under the Kodambakkam SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class IV Type - II.

How the guideline value of Gandhi Nagar has changed

The guideline value for Gandhi Nagar has seen several revisions over the years. In 2003, the value was Rs 824 per sq.ft, which increased to Rs 1,200 per sq.ft in 2007, marking a 46% rise. The subsequent revision in 2012 saw a significant jump to Rs 4,000 per sq.ft, representing a remarkable increase of 233%. However, between 2012 and 2017, the value decreased to Rs 2,680 per sq.ft, a drop of 33%. The most recent revision in 2024 has brought the guideline value back up to Rs 4,400 per sq.ft, reflecting a 64% increase from the 2017 figure.

It is worth noting that there are no figures available for the years 2023 and 2002 for this street. Overall, from 2003 to 2024, the guideline value has increased by 434%.

Guideline values in Puliyur

In Puliyur village, there are a total of 648 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median value for these streets is Rs 5,800 per sq.ft, placing Gandhi Nagar's 2024 figure below this median.

• Ganapathi Street: Rs 6,300 per sq.ft (2024)
• Gandhi Road, Ch-94: Rs 6,300 per sq.ft (2024)
• Ganesh Avenue: Rs 4,400 per sq.ft (2024)
• Gangai Amman Colony: Rs 5,000 per sq.ft (2024)
• Gangai Amman Koil 1st Cross Street -Vadapalani: Rs 5,800 per sq.ft (2024)
• Gangai Amman Koil 1st Lane -Vadapalani: Rs 5,800 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Nagar

For a property in Gandhi Nagar measuring 1,000 sq.ft at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty, calculated at 7%, would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. Therefore, the total cost for stamp duty and registration fees would be Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can calculate your own fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gandhi Nagar?

The Sub Registrar Office that covers Gandhi Nagar is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. For more information, you can find your SRO.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Puliyur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the transaction is documented at a fair value.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with property transactions. Buyers and sellers should be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Gandhi Nagar?

The current guideline value of Gandhi Nagar is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 824 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 434% over the years.

What is the land classification of Gandhi Nagar?

Gandhi Nagar is classified as Residential Class IV Type - II, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Gandhi Nagar?

The Kodambakkam Sub Registrar Office covers Gandhi Nagar and is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is the stamp duty calculated for properties in Gandhi Nagar?

Stamp duty for properties in Gandhi Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applied to the guideline value.