Guideline Value for GANDHI ROAD(KAVERI NAGAR)

Gandhi Road(Kaveri Nagar) guideline value

The current guideline value for Gandhi Road(Kaveri Nagar) is Rs 5,830 per sq.ft, effective from 1 July 2024. This street is located in the Government farm village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Gandhi Road(Kaveri Nagar) has changed

The guideline value for Gandhi Road(Kaveri Nagar) has undergone several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 1,097 per sq.ft. This figure increased to Rs 1,239 per sq.ft in 2003, marking a change of +13%. The value saw significant growth, reaching Rs 2,500 per sq.ft in 2007, which is an increase of +102%. Following this, the value rose to Rs 5,300 per sq.ft in 2012, reflecting a +112% change. However, from 2012 to 2017, the guideline value decreased to Rs 3,551 per sq.ft, showing a decline of -33%. The value then increased to Rs 5,300 per sq.ft in 2023, with a notable rise of +49%. The most recent revision in 2024 has set the guideline value at Rs 5,830 per sq.ft, which is a +10% increase from the previous year.

There are no figures recorded for any other revisions for this street in the guideline value register.

Guideline values in Government farm

In the Government farm village, there are 35 streets under the Chennai South Joint I SRO that carry a 2024 guideline value. These values range from Rs 3,850 to Rs 15,400 per sq.ft, with the median being Rs 8,250 per sq.ft. Gandhi Road(Kaveri Nagar)'s 2024 figure is below this median.

• Gandhi Road(Gandhi Nagar): Rs 5,830 per sq.ft (2024)
• Government Farm Loop Street: Rs 4,400 per sq.ft (2024)
• Jones Road: Rs 8,250 per sq.ft (2024)
• Krishnapillai Thotam: Rs 3,850 per sq.ft (2024)
• Krishnapillai Thotam 1st Street: Rs 3,850 per sq.ft (2024)
• Krishnapillai Thotam 2nd Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Road(Kaveri Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 5,830 per sq.ft, the total guideline value amounts to Rs 58,30,000. The stamp duty is charged at 7%, resulting in Rs 4,08,100, while the registration fee at 2% amounts to Rs 1,16,600. Therefore, the total cost for stamp duty and registration fee together would be Rs 5,24,700. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gandhi Road(Kaveri Nagar)?

The Sub Registrar Office that covers Gandhi Road(Kaveri Nagar) is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more details.

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

The guideline value is a critical factor during the registration of property transactions in Government farm. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

When buying or selling property, it is essential to be aware of the current guideline value, as it directly impacts the financial obligations involved in the transaction. Ensuring that the property is registered at the correct guideline value helps in maintaining transparency and compliance with legal requirements.

Frequently asked questions

What is the current guideline value for Gandhi Road(Kaveri Nagar)?

The current guideline value for Gandhi Road(Kaveri Nagar) is Rs 5,830 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,097 per sq.ft in 2002 to Rs 5,830 per sq.ft in 2024. This reflects an overall increase of +431% over the years.

What is the land classification for Gandhi Road(Kaveri Nagar)?

The land classification for Gandhi Road(Kaveri Nagar) is Residential Class III Type - I, indicating its designation for residential use.

Where can I find the Sub Registrar Office for Gandhi Road(Kaveri Nagar)?

The Sub Registrar Office for Gandhi Road(Kaveri Nagar) is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is the stamp duty calculated for properties in Gandhi Road(Kaveri Nagar)?

Stamp duty for properties in Gandhi Road(Kaveri Nagar) is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 58,30,000, the stamp duty at 7% amounts to Rs 4,08,100.