Guideline Value for GANDHI NAGAR

Gandhi Nagar guideline value

The current guideline value of Gandhi Nagar, located in Sadayankuppam village under the Thiruvottiyur SRO, is Rs 1,000 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I 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. Starting from Rs 20 per sq.ft in 2002, it increased to Rs 28 per sq.ft in 2003, marking a 40% rise. The value further escalated to Rs 100 per sq.ft in 2007, representing a significant increase of 257%. In 2012, the value rose to Rs 450 per sq.ft, which was a 350% increase from the previous revision. However, it dropped to Rs 301 per sq.ft in 2017, reflecting a decrease of 33%.

From 2017 to 2023, the guideline value remained at Rs 1,000 per sq.ft, and there was no figure for this street in the register for 2023. The latest revision in 2024 has kept the guideline value at Rs 1,000 per sq.ft, indicating no change from the 2023 figure.

Guideline values in Sadayankuppam

In Sadayankuppam, there are 20 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 1,200 per sq.ft, with a median value of Rs 1,002 per sq.ft. The guideline value for Gandhi Nagar is below this median.

• Duvaraga Nagar: Rs 1,100 per sq.ft (2024)
• Dr. M.G.R. Nagar: Rs 1,100 per sq.ft (2024)
• Jeinfer Nagar: Rs 1,100 per sq.ft (2024)
• Burma Nagar: Rs 1,001 per sq.ft (2024)
• K.G.L. Nagar: Rs 1,002 per sq.ft (2024)
• Mallika Nagar: Rs 1,000 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 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, resulting in a total of Rs 90,000 for these charges. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, 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 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 Sadayankuppam

The guideline value plays a crucial role in the registration process when buying or selling property in Sadayankuppam. It serves as the benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Gandhi Nagar?

The current guideline value of Gandhi Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 20 per sq.ft in 2002 to Rs 1,000 per sq.ft in 2024, reflecting an overall increase of 4900% over these years.

What are the other streets in Sadayankuppam with their guideline values?

Other streets in Sadayankuppam include Duvaraga Nagar, Dr. M.G.R. Nagar, Jeinfer Nagar, Burma Nagar, K.G.L. Nagar, and Mallika Nagar, with guideline values ranging from Rs 1,000 to Rs 1,100 per sq.ft in 2024.

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

For a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000 and the registration fee would be Rs 20,000, totaling Rs 90,000. These fees are based on the higher of the guideline value or the sale price.

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. This office handles registrations for properties in Gandhi Nagar.