Guideline Value for GANDHI NAGAR

Gandhi Nagar guideline value

The current guideline value of Gandhi Nagar, located in Devathanam village under the Ponneri SRO, is Rs 100 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Gandhi Nagar has changed

Over the years, the guideline value for Gandhi Nagar has undergone several revisions. The 2012 revision set the value at Rs 100 per sq.ft, which then decreased to Rs 67 per sq.ft in the 2017 revision, marking a decline of 33%. Following this, the value increased significantly to Rs 100 per sq.ft in the 2023 revision, and it remained unchanged in the 2024 revision, reflecting a 49% increase from the 2017 revision.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Thus, the first recorded value was Rs 100 per sq.ft in 2012, which was followed by the subsequent changes leading up to the current value.

Guideline values in Devathanam

In Devathanam, there are 23 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 111 per sq.ft. The median value for these streets is Rs 100 per sq.ft, placing Gandhi Nagar's 2024 figure at this median level.

• Dr.M.G.R.NAGAR PHASE-III,IV: Rs 100 per sq.ft (2024)
• Green City: Rs 100 per sq.ft (2024)
• Dheepam Nagar: Rs 100 per sq.ft (2024)
• Imayam Nagar: Rs 111 per sq.ft (2024)
• Jeremiah City: Rs 111 per sq.ft (2024)
• J S Nagar: Rs 100 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 100 per sq.ft, the total guideline value would be Rs 1,00,000. The stamp duty is charged at 7%, amounting to Rs 7,000, while the registration fee is 2%, totaling Rs 2,000. Therefore, the combined cost for stamp duty and registration fee would be Rs 9,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, 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 Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process of property transactions in Devathanam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property in the area.

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 and fees. This ensures that the transaction is conducted in compliance with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Gandhi Nagar?

The current guideline value of Gandhi Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2012 to Rs 67 per sq.ft in 2017, then back to Rs 100 per sq.ft in 2023, and it remains the same in 2024.

What is the land classification of Gandhi Nagar?

Gandhi Nagar is classified as Residential Class II Type - I according to the local guidelines.

Where can I find the Ponneri Sub Registrar Office?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. This office handles registrations for properties in Gandhi Nagar.

How is stamp duty calculated for properties in Gandhi Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 1,00,000 would incur a stamp duty of Rs 7,000 at a rate of 7%.