Guideline Value for GANDHI NAGAR

Gandhi Nagar guideline value

The current guideline value of Gandhi Nagar, located in Thadaperumbakkam village under the Ponneri SRO, is Rs 501 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Gandhi Nagar has changed

The guideline value for Gandhi Nagar has seen several revisions over the years. In 2012, the value was set at Rs 200 per sq.ft. This increased to Rs 134 per sq.ft in 2017, marking a decline of 33%. However, the value surged to Rs 300 per sq.ft in 2023, reflecting a significant increase of 124%. The most recent revision in 2024 saw the guideline value rise to Rs 501 per sq.ft, an increase of 67% from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 151%.

Guideline values in Thadaperumbakkam

In Thadaperumbakkam, there are 50 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 1,500 per sq.ft, with a median value of Rs 501 per sq.ft. The guideline value for Gandhi Nagar aligns with this median.

• Hira Apple Garden: Rs 501 per sq.ft (2024)
• Hira Rubi Avenue: Rs 600 per sq.ft (2024)
• Devaki Green Garden: Rs 600 per sq.ft (2024)
• Dasaradan Nagar: Rs 600 per sq.ft (2024)
• Kailash Nagar: Rs 501 per sq.ft (2024)
• Bharath Nagar: Rs 501 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 501 per sq.ft, the total guideline value amounts to Rs 5,01,000. The stamp duty at 7% would be Rs 35,070, and the registration fee at 2% would be Rs 10,020, totaling Rs 45,090. 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 more detailed calculations.

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 Thadaperumbakkam

The guideline value is a crucial factor in the property registration process in Thadaperumbakkam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is documented at a fair value.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential costs associated with the transfer of property ownership. Buyers should be aware of the guideline value 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 501 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 200 per sq.ft in 2012 to Rs 501 per sq.ft in 2024, reflecting a total increase of 151% over this period.

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

For a property valued at Rs 5,01,000, the stamp duty would be Rs 35,070 and the registration fee would be Rs 10,020, totaling Rs 45,090.

Which Sub Registrar Office covers Gandhi Nagar?

The Ponneri Sub Registrar Office covers Gandhi Nagar, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

What is the land classification for Gandhi Nagar?

Gandhi Nagar is classified as Residential Class II Type - I, which indicates its suitability for residential development.