Guideline Value for GANDHI ROAD

Gandhi Road guideline value

The current guideline value of Gandhi Road in Mitnamalle village, under the Avadi SRO, is Rs 802 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Gandhi Road has changed

The guideline value for Gandhi Road has seen several revisions over the years. The 2007 revision set the value at Rs 150 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2012. However, it dropped to Rs 402 per sq.ft in 2017. The value then rose to Rs 600 per sq.ft in 2023, before reaching the current figure of Rs 802 per sq.ft in 2024, marking a 34% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 435%. The revisions for the years 2002 and 2003 do not have any figures listed for this street.

Guideline values in Mitnamalle

In Mitnamalle, there are 53 streets under the Avadi SRO with a guideline value for 2024 ranging from Rs 800 to Rs 2,550 per sq.ft. The median value is Rs 802 per sq.ft, which is equal to the guideline value of Gandhi Road.

• Ganesh Nagar: Rs 806 per sq.ft (2024)
• Gandhi 2nd Cross: Rs 802 per sq.ft (2024)
• Gandhi 1st Street: Rs 802 per sq.ft (2024)
• Durakai Amman Koil St: Rs 802 per sq.ft (2024)
• Guru Duwara St: Rs 806 per sq.ft (2024)
• Happy Garden: Rs 802 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Road

For a 1,000 sq.ft plot at the current guideline value of Rs 802 per sq.ft, the total guideline value amounts to Rs 8,02,000. The stamp duty at 7% would be Rs 56,140, and the registration fee at 2% would be Rs 16,040, making the total charges Rs 72,180. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gandhi Road?

The Sub Registrar Office that covers Gandhi Road is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is essential during property transactions as it determines the amount of stamp duty and registration fees payable. Buyers and sellers must refer to the guideline value to ensure compliance with legal requirements during registration.

When a property is sold, the guideline value helps in assessing the official value of the property for taxation purposes. It is crucial for both parties to be aware of the current guideline value to avoid any discrepancies during the sale process.

Frequently asked questions

What is the current guideline value of Gandhi Road?

The current guideline value of Gandhi Road is Rs 802 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 150 per sq.ft in 2007 to Rs 802 per sq.ft in 2024, showing a significant overall increase of 435% over the years.

What are the stamp duty and registration fees for properties on Gandhi Road?

For a 1,000 sq.ft property at the guideline value of Rs 802 per sq.ft, the total stamp duty would be Rs 56,140 and the registration fee would be Rs 16,040, totaling Rs 72,180.

Which Sub Registrar Office covers the area of Gandhi Road?

The Avadi Sub Registrar Office covers Gandhi Road, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

What is the land classification for Gandhi Road?

Gandhi Road is classified under Residential Class II Type - I, indicating its suitability for residential development.