Guideline Value for GANDHI NAGAR

Gandhi Nagar guideline value

The current guideline value of Gandhi Nagar is Rs 250 per sq.ft, effective from 1 July 2024. This area falls within Kizhnallathur & Melnallathur village and is classified under Residential Class I Type - II by the Manavalanagar SRO.

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 revision was in 2012, where the value was set at Rs 250 per sq.ft. This was followed by a decrease to Rs 167 per sq.ft in 2017. However, from 2017 to 2023, the value increased by 50% back to Rs 250 per sq.ft. The most recent revision in 2024 maintained this value at Rs 250 per sq.ft, indicating no change from the previous year.

There are no recorded figures for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Kizhnallathur & Melnallathur

In Kizhnallathur & Melnallathur, there are 67 streets under the Manavalanagar SRO that carry a 2024 guideline value, ranging from Rs 175 to Rs 1,201 per sq.ft. The median value for these streets is Rs 250 per sq.ft, which is equal to the guideline value of Gandhi Nagar.

• Ganesh Ram Nagar: Rs 226 per sq.ft (2024)
• Ellappa Nagar: Rs 250 per sq.ft (2024)
• Gokul Garden: Rs 502 per sq.ft (2024)
• Dhanalakshmi Nagar: Rs 200 per sq.ft (2024)
• Kalavathi Nagar: Rs 200 per sq.ft (2024)
• Kansanbai Nagar: Rs 502 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 250 per sq.ft, the total guideline value would be Rs 2,50,000. The stamp duty at 7% would amount to Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total to Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gandhi Nagar?

The Sub Registrar Office that covers Gandhi Nagar is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Kizhnallathur & Melnallathur

The guideline value is a crucial factor in the registration process of property transactions in Kizhnallathur & Melnallathur. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value as it influences the overall cost of the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Gandhi Nagar?

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

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most significant being a decrease to Rs 167 per sq.ft in 2017, followed by an increase back to Rs 250 per sq.ft in 2023 and remaining the same in 2024.

What are the other streets in Kizhnallathur & Melnallathur?

Other streets in Kizhnallathur & Melnallathur include Ganesh Ram Nagar, Ellappa Nagar, Gokul Garden, Dhanalakshmi Nagar, Kalavathi Nagar, and Kansanbai Nagar, each with varying guideline values.

How is stamp duty calculated for properties in Gandhi Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a plot of 1,000 sq.ft at the current guideline value, the stamp duty would be Rs 17,500.

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

The Sub Registrar Office for Gandhi Nagar is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.