Guideline Value for GANDHI NAGAR

Gandhi Nagar guideline value

The current guideline value of Gandhi Nagar, located in Ottiyampakkam village under the Selaiyur SRO, is Rs 1,950 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Gandhi Nagar has changed

The guideline value for Gandhi Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,206 per sq.ft, a decrease of 33%. Following this, the value increased significantly to Rs 1,800 per sq.ft in the 2023 revision, before reaching the current value of Rs 1,950 per sq.ft in 2024, marking an 8% increase from the previous year.

Looking at the overall changes, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. The 2023 revision recorded a significant increase of 49% from the 2017 figure, reflecting a notable shift in the guideline value for this street.

Guideline values in Ottiyampakkam

In Ottiyampakkam, there are 88 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 4,300 per sq.ft, with the median value being Rs 1,950 per sq.ft. The guideline value for Gandhi Nagar is equal to this median.

• Gandhi Nagar Extension: Rs 1,950 per sq.ft (2024)
• Gandhi Nagar Main Road: Rs 1,950 per sq.ft (2024)
• Fairy Land Agriya: Rs 3,200 per sq.ft (2024)
• Elite Acres: Rs 1,800 per sq.ft (2024)
• Casa Grand Sereno: Rs 3,200 per sq.ft (2024)
• Jones Cassia: Rs 2,700 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 1,950 per sq.ft, the total guideline value amounts to Rs 19,50,000. The stamp duty at 7% would be Rs 1,36,500, and the registration fee at 2% would be Rs 39,000, together totaling Rs 1,75,500. 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 Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Ottiyampakkam

The guideline value plays a crucial role in the registration process when buying or selling property in Ottiyampakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during property transactions.

When a property is registered, the guideline value is used to calculate the applicable fees, and it is essential to use the higher of the guideline value or the sale price for this calculation. This ensures that the correct amount of stamp duty and registration fees is paid at the time of registration.

Frequently asked questions

What is the current guideline value of Gandhi Nagar?

The current guideline value of Gandhi Nagar is Rs 1,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then back to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,950 per sq.ft in 2024.

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

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is Rs 19,50,000. The stamp duty would be Rs 1,36,500, and the registration fee would be Rs 39,000, totaling Rs 1,75,500.

Which Sub Registrar Office covers Gandhi Nagar?

The Selaiyur Sub Registrar Office covers Gandhi Nagar, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.

What is the land classification of Gandhi Nagar?

Gandhi Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.