Guideline Value for GANDHI STREET (WARD-21)

Gandhi Street (Ward-21) guideline value

The current guideline value of Gandhi Street (Ward-21) is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Potheri village, under the Chengleput Joint II SRO, and is classified as Residential Class II Type - I.

How the guideline value of Gandhi Street (Ward-21) has changed

Since the 2012 revision, the guideline value of Gandhi Street (Ward-21) has seen several changes. The 2012 revision set the value at Rs 600 per sq.ft, which then decreased to Rs 402 per sq.ft in 2017. Following this, the value increased significantly to Rs 600 per sq.ft in 2023, and then rose again to the current rate of Rs 660 per sq.ft in 2024, reflecting a 10% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The revisions from 2017 to 2023 saw a notable increase of 49%, while the change from 2012 to 2017 was a decrease of 33%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Potheri

Potheri village has a total of 129 streets under the Chengleput Joint II SRO, with 2024 guideline values ranging from Rs 440 to Rs 2,970 per sq.ft. The median guideline value for these streets is Rs 770 per sq.ft, making the 2024 guideline value for Gandhi Street (Ward-21) below this median.

• Gokulam Colony (Ward-20): Rs 880 per sq.ft (2024)
• E.V.P Estate, Vallancheri (Ward -1): Rs 1,651 per sq.ft (2024)
• Gopula Krishna Nagar (Tai): Rs 1,100 per sq.ft (2024)
• Ettiamman Koil Street (Ward-21): Rs 770 per sq.ft (2024)
• Elangoadigal Street (Ward-20): Rs 880 per sq.ft (2024)
• G.S.T. Road Chamundeeswari (Ward-21): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Street (Ward-21)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total cost for these fees to Rs 59,400. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gandhi Street (Ward-21)?

The Sub Registrar Office covering Gandhi Street (Ward-21) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO here.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Potheri. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that both the buyer and seller are aware of the financial implications of the transaction based on the established guideline values.

Frequently asked questions

What is the current guideline value of Gandhi Street (Ward-21)?

The current guideline value of Gandhi Street (Ward-21) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification for Gandhi Street (Ward-21)?

Gandhi Street (Ward-21) is classified as Residential Class II Type - I.

What other streets are in Potheri with guideline values?

Other streets in Potheri include Gokulam Colony (Ward-20) at Rs 880 per sq.ft, E.V.P Estate, Vallancheri (Ward -1) at Rs 1,651 per sq.ft, and Ettiamman Koil Street (Ward-21) at Rs 770 per sq.ft.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.