Guideline Value for GANDHI STREET (KABILAR NAGAR)

Gandhi Street (Kabilar Nagar) guideline value

The current guideline value of Gandhi Street (Kabilar Nagar) is Rs 800 per sq.ft, effective from 1 July 2024. This street is located in Vengathur village and falls under the Manavalanagar SRO, classified as Residential Class I Type - II.

How the guideline value of Gandhi Street (Kabilar Nagar) has changed

Over the years, the guideline value of Gandhi Street (Kabilar Nagar) has seen several revisions. The earliest recorded figure is from 2007, where the value was Rs 125 per sq.ft. This increased significantly to Rs 800 per sq.ft in 2012, marking a rise of 540%. However, it then decreased to Rs 536 per sq.ft in 2017, a drop of 33%. The value remained unchanged at Rs 800 per sq.ft in both 2023 and the current 2024 revision, indicating a 49% increase from the 2017 figure.

It is important to note that there are no recorded figures for the years 2002 and 2003 for this street. The guideline values from the revisions are as follows: 2007 - Rs 125 per sq.ft, 2012 - Rs 800 per sq.ft, 2017 - Rs 536 per sq.ft, 2023 - Rs 800 per sq.ft, and 2024 - Rs 800 per sq.ft.

Guideline values in Vengathur

In Vengathur village, there are 186 streets under the Manavalanagar SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 2,000 per sq.ft, with a median value of Rs 1,000 per sq.ft. The guideline value for Gandhi Street (Kabilar Nagar) is below this median.

• Ganesan Street: Rs 1,300 per sq.ft (2024)
• Gandhi Street: Rs 1,300 per sq.ft (2024)
• GANGAIAMMAN KOIL STREET(a)BHARTHASARATHY STREET: Rs 1,300 per sq.ft (2024)
• Gangatheeswarar Koil Street: Rs 1,300 per sq.ft (2024)
• Elumalai Street: Rs 600 per sq.ft (2024)
• Elumalai Naicker Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Street (Kabilar Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value amounts to Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, bringing the total to Rs 72,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gandhi Street (Kabilar Nagar)?

The Sub Registrar Office that covers Gandhi Street (Kabilar Nagar) is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Vengathur. It is used to determine the stamp duty and registration fees that are payable at the time of registration, ensuring that the transaction is officially recorded in accordance with the current legal framework.

When buying or selling property, the guideline value serves as a benchmark for the transaction price. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations and to avoid any potential legal issues during the registration process.

Frequently asked questions

What is the current guideline value of Gandhi Street (Kabilar Nagar)?

The current guideline value of Gandhi Street (Kabilar Nagar) is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 125 per sq.ft in 2007 to Rs 800 per sq.ft in 2012, then decreased to Rs 536 per sq.ft in 2017, and remained at Rs 800 per sq.ft in both 2023 and 2024.

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

For a property valued at Rs 8,00,000, the stamp duty would be Rs 56,000, and the registration fee would be Rs 16,000, totaling Rs 72,000.

Which office handles registrations for Gandhi Street (Kabilar Nagar)?

The Manavalanagar Sub Registrar Office handles registrations for Gandhi Street (Kabilar Nagar), located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

How is the guideline value determined for properties in Vengathur?

The guideline value for properties in Vengathur is determined based on various factors, including land classification and the current market conditions as reflected in the Registration Department's guideline value register.