Guideline Value for GANDHI ROAD

Gandhi Road guideline value

The current guideline value of Gandhi Road in Arumbakkam village, under the Kodambakkam SRO, is Rs 6,000 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of Gandhi Road has changed

The guideline value for Gandhi Road has seen significant changes over the years. In 2002, the value was Rs 651 per sq.ft, which increased to Rs 717 per sq.ft in 2003, marking a 10% rise. The value further increased to Rs 1,100 per sq.ft in 2007, reflecting a 53% change. By 2012, the value was Rs 5,500 per sq.ft, indicating a substantial increase of 400% from the previous revision. However, this value dropped to Rs 3,685 per sq.ft in 2017, showing a decrease of 33%. The guideline value then rose to Rs 5,500 per sq.ft in 2023, before reaching the current figure of Rs 6,000 per sq.ft in 2024, which is a 9% increase.

Overall, from 2002 to 2024, the guideline value has increased by 822%. There are no years in the register with missing figures for this street.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value for these streets is Rs 6,000 per sq.ft, which is equal to the current guideline value for Gandhi Road.

• Gandhi Nagar (Panjaliamman Koil Inside): Rs 5,300 per sq.ft (2024)
• Gandhi Nagar I St Street: Rs 5,300 per sq.ft (2024)
• Gandhi Nagar II Nd Street: Rs 5,300 per sq.ft (2024)
• Gandhi Street (Near Janakiram Colony Extn): Rs 5,300 per sq.ft (2024)
• Frends Avenue: Rs 6,000 per sq.ft (2024)
• Flowers Road (Pookaran Street): Rs 6,000 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 6,000 per sq.ft, the total guideline value amounts to Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, bringing the total fees to Rs 5,40,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. 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 Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Arumbakkam. It is used to determine the stamp duty and registration fees applicable during the registration process. Buyers and sellers should be aware that the guideline value is a key factor in calculating these costs.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. It is advisable for prospective buyers and sellers to familiarize themselves with the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Gandhi Road?

The current guideline value of Gandhi Road is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value of Gandhi Road changed over the years?

The guideline value has changed from Rs 651 per sq.ft in 2002 to Rs 6,000 per sq.ft in 2024, showing an overall increase of 822% over this period.

What are the other streets in Arumbakkam and their guideline values?

Other streets in Arumbakkam include Gandhi Nagar (Panjaliamman Koil Inside), Gandhi Nagar I St Street, Gandhi Nagar II Nd Street, Gandhi Street (Near Janakiram Colony Extn), Frends Avenue, and Flowers Road (Pookaran Street), with values ranging from Rs 5,300 to Rs 6,000 per sq.ft.

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

For a property valued at Rs 60,00,000, the stamp duty would be Rs 4,20,000 and the registration fee would be Rs 1,20,000, totaling Rs 5,40,000.

Which office handles registrations for Gandhi Road?

The Kodambakkam Sub Registrar Office handles registrations for Gandhi Road, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.