Guideline Value for GANDHI NAGAR

Gandhi Nagar guideline value

The current guideline value of Gandhi Nagar, located in Zaminpallavaram village under the Pallavaram SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - II land classification.

How the guideline value of Gandhi Nagar has changed

The guideline value for Gandhi Nagar has undergone several revisions over the years. The earliest available figure is from 2012, when it was set at Rs 3,000 per sq.ft. This value remained unchanged until the next revision in 2017, which saw a decrease to Rs 2,010 per sq.ft, marking a decline of 33%. Following this, the 2023 revision increased the guideline value to Rs 3,000 per sq.ft, and the most recent revision in 2024 has raised it further to Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%, bringing it to Rs 3,000 per sq.ft. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, making Gandhi Nagar's current guideline value equal to this median.

• Gandhi Nagar 1 To 3 Streets: Rs 3,300 per sq.ft (2024)
• Gandhiamman Koil Street: Rs 2,160 per sq.ft (2024)
• Ganashpriyan Avenue: Rs 2,160 per sq.ft (2024)
• Ganapathypuram Extention 2nd Cross Street: Rs 3,850 per sq.ft (2024)
• Ganapathipuram Main Road: Rs 3,850 per sq.ft (2024)
• Gandhi Nagar Mc Nagar: 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 is Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to 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.

You can 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, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Zaminpallavaram. It serves as the basis for calculating stamp duty and registration fees, which are mandatory during the property transaction.

When a property is sold, the guideline value is used to ensure that the transaction is recorded accurately and that the appropriate fees are collected. Buyers and sellers should be aware of the current guideline value to understand their financial obligations 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 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Gandhi Nagar?

Gandhi Nagar is classified as Residential Class I Type - II.

How is stamp duty calculated for property in Gandhi Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000.

Where can I find the Sub Registrar Office for Gandhi Nagar?

The Sub Registrar Office for Gandhi Nagar is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.