Guideline Value for GANDHI NAGAR

Gandhi Nagar guideline value

The current guideline value of Gandhi Nagar, located in Thiruvottiyur village, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area falls under the Thiruvottiyur SRO and is classified as Residential Special Type - I.

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 119 per sq.ft in 2002, it increased to Rs 141 per sq.ft in 2003, marking an 18% rise. The value then saw a significant jump to Rs 500 per sq.ft in 2007, reflecting a 255% increase. Following this, the value rose to Rs 3,000 per sq.ft in 2012, which was a 500% increase from the previous revision. However, it dropped to Rs 2,010 per sq.ft in 2017, showing a decrease of 33% from the 2012 figure.

In 2023, the guideline value was set at Rs 3,000 per sq.ft, and it increased by 10% to reach Rs 3,300 per sq.ft in the 2024 revision. Overall, from 2002 to 2024, the guideline value has increased by 2673% in Gandhi Nagar.

Guideline values in Thiruvottiyur

In Thiruvottiyur, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 1,300 to Rs 8,600 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the current guideline value of Gandhi Nagar.

• Gangai Nagar: Rs 3,300 per sq.ft (2024)
• Gangaiyamman Nagar: Rs 3,300 per sq.ft (2024)
• Esani Moorthi Koil Street: Rs 3,300 per sq.ft (2024)
• Ganga Nagar: Rs 3,300 per sq.ft (2024)
• Ennore Express Road: Rs 3,300 per sq.ft (2024)
• Ellaiamman Koil Street: Rs 3,300 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 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000. Together, the total charges would be Rs 2,97,000. 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 Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process for property transactions in Thiruvottiyur. It is used to determine the stamp duty and registration fees that need to 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 amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the region.

Frequently asked questions

What is the current guideline value of Gandhi Nagar?

The current guideline value of Gandhi Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 119 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, showing a significant rise over the years.

What is the land classification for Gandhi Nagar?

Gandhi Nagar is classified as Residential Special Type - I under the guideline value register.

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.

How is the stamp duty calculated for property in Gandhi Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000, leading to a stamp duty of Rs 2,31,000.