Guideline Value for GANDHI NAGAR

Gandhi Nagar guideline value

The current guideline value of Gandhi Nagar, located in Matthur village under the Thiruvottiyur SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - III.

How the guideline value of Gandhi Nagar has changed

The guideline value for Gandhi Nagar has seen several revisions over the years. In 2002, the value was Rs 68 per sq.ft, which increased to Rs 80 per sq.ft in 2003. Following that, there was a significant rise to Rs 200 per sq.ft in 2007, and it further escalated to Rs 1,000 per sq.ft in 2012. However, from 2012 to 2017, the value decreased to Rs 670 per sq.ft. The value then rose to Rs 1,000 per sq.ft in 2023, and as of the 2024 revision, it stands at Rs 1,100 per sq.ft.

The changes between these revisions highlight a notable increase. From 2002 to 2024, the overall increase is 1518%. The value jumped by 400% from 2007 to 2012, and then saw a 49% increase from 2017 to 2023. The most recent change from 2023 to 2024 reflects a 10% increase.

Guideline values in Matthur

In Matthur, there are 66 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft, with the median value being Rs 1,100 per sq.ft. Gandhi Nagar's guideline value of Rs 1,100 per sq.ft is equal to this median.

• Ganesh Nagar: Rs 1,100 per sq.ft (2024)
• Eswari Nagar: Rs 1,100 per sq.ft (2024)
• George Road: Rs 1,100 per sq.ft (2024)
• Gomathi Garden: Rs 1,600 per sq.ft (2024)
• Grama Street: Rs 1,100 per sq.ft (2024)
• D.M.Nagar: Rs 2,276 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 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total charges to Rs 99,000. 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 details.

Which Sub Registrar Office covers Gandhi Nagar?

The Sub Registrar Office that covers Gandhi Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for further assistance.

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

The guideline value is a critical factor in the registration process when buying or selling property in Matthur. It serves as the basis for calculating the stamp duty and registration fees, ensuring that the transaction is recorded accurately with the government authorities.

When a property is sold, the guideline value helps determine the official value of the property for legal and taxation purposes. Buyers and sellers should be aware of the current guideline value to ensure compliance with the registration requirements.

Frequently asked questions

What is the current guideline value of Gandhi Nagar?

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

How has the guideline value changed over the years?

The guideline value has increased from Rs 68 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 1518% over this period.

What is the land classification of Gandhi Nagar?

Gandhi Nagar is classified as Residential Special Type - III, which is relevant for property transactions in the area.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 11,00,000, the total charges would be Rs 99,000.

Where is the Sub Registrar Office for Gandhi Nagar located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.