Guideline Value for GANDHI NAGAR

Gandhi Nagar guideline value

The current guideline value of Gandhi Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Kovilambakkam village under the Pallavaram SRO, classified as Residential Class IV Type - I.

How the guideline value of Gandhi Nagar has changed

The guideline value of Gandhi Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. However, the value increased significantly to Rs 1,200 per sq.ft in the 2023 revision, and further rose by 10% to Rs 1,320 per sq.ft in the 2024 revision.

Between the revisions, the changes are notable. From 2017 to 2023, there was a substantial increase of 49%. The 2012 to 2017 period saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kovilambakkam

Kovilambakkam village has 61 streets under the Pallavaram SRO, with guideline values for 2024 ranging from Rs 1,320 to Rs 5,610 per sq.ft. The median value is Rs 2,750 per sq.ft, placing Gandhi Nagar's 2024 figure below that median.

• Ganapathy Nagar 1 To 5 Streets: Rs 2,750 per sq.ft (2024)
• Gandhi Street: Rs 2,160 per sq.ft (2024)
• Ganapathi Nagar: Rs 2,750 per sq.ft (2024)
• Durakaiyamman Salai: Rs 2,200 per sq.ft (2024)
• Indrajit Avenue: Rs 2,750 per sq.ft (2024)
• Chinna Kovilambakkam 6 To 14 Streets: Rs 2,750 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 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, while the registration fee at 2% would be Rs 26,400, bringing the total charges to Rs 1,18,800. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our 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 Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kovilambakkam. It serves as a reference point for calculating the stamp duty and registration fees, ensuring that transactions are transparent and in line with government regulations.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. Buyers and sellers should be aware of the guideline value to avoid 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 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification of Gandhi Nagar?

Gandhi Nagar is classified as Residential Class IV Type - I under the Pallavaram SRO.

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

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Which office covers Gandhi Nagar for registration?

The Pallavaram Sub Registrar Office covers Gandhi Nagar, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.