Guideline Value for GANDHI STREET (NEAR JANAKIRAM COLONY EXTN)

Gandhi Street (Near Janakiram Colony Extn) guideline value

The current guideline value of Gandhi Street (Near Janakiram Colony Extn) is Rs 5,300 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village and falls under the Kodambakkam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Gandhi Street (Near Janakiram Colony Extn) has changed

The guideline value for Gandhi Street has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 1,100 per sq.ft. This increased significantly to Rs 4,900 per sq.ft in 2012, marking a 345% rise. However, it then decreased to Rs 3,283 per sq.ft in 2017, a drop of 33%. The value continued to rise, reaching Rs 4,900 per sq.ft in 2023, before the latest revision to Rs 5,300 per sq.ft in 2024, which is an 8% increase from the previous year.

In summary, the guideline value has increased from Rs 1,100 per sq.ft in 2007 to Rs 5,300 per sq.ft in 2024, reflecting an overall increase of 382% over the years. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO, with guideline values ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median guideline value in this area is Rs 6,000 per sq.ft, making the current value of Gandhi Street (Near Janakiram Colony Extn) below the median.

• Gandhi Road: Rs 6,000 per sq.ft (2024)
• 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)
• 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 Street (Near Janakiram Colony Extn)

For a 1,000 sq.ft plot at the current guideline value of Rs 5,300 per sq.ft, the total guideline value would be Rs 53,00,000. The stamp duty at 7% would be Rs 3,71,000, and the registration fee at 2% would be Rs 1,06,000, making the total fees together Rs 4,77,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Gandhi Street (Near Janakiram Colony Extn)?

The Sub Registrar Office that covers Gandhi Street (Near Janakiram Colony Extn) 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 is a crucial factor during property registration in Arumbakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold. This ensures that the transaction is recorded accurately and complies with local regulations.

When a buyer or seller engages in a property transaction, the guideline value helps establish the minimum value for which the property can be registered. This protects both parties by ensuring that the property is not undervalued during the sale process.

Frequently asked questions

What is the current guideline value of Gandhi Street?

The current guideline value of Gandhi Street (Near Janakiram Colony Extn) is Rs 5,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,100 per sq.ft in 2007 to Rs 5,300 per sq.ft in 2024, with various revisions in between.

What is the median guideline value in Arumbakkam?

The median guideline value in Arumbakkam is Rs 6,000 per sq.ft, which is higher than the current value of Gandhi Street.

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

For a property valued at Rs 53,00,000, the stamp duty would be Rs 3,71,000 and the registration fee would be Rs 1,06,000, totaling Rs 4,77,000.

Which office handles registrations for Gandhi Street?

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