Guideline Value for GANDHI STREET (WARD-21)

Gandhi Street (Ward-21) guideline value

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

The guideline value of Gandhi Street (Ward-21) has seen several revisions over the years. In 2012, the value was recorded at Rs 600 per sq.ft. This figure remained until the 2017 revision, where it decreased to Rs 402 per sq.ft, marking a decline of 33%. The subsequent revision in 2023 raised the value to Rs 600 per sq.ft, which was then increased to Rs 660 per sq.ft in the 2024 revision, representing a 10% rise.

From 2017 to 2023, there was a significant increase of 49%. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Thailavaram

In Thailavaram, there are 132 streets under the Chengleput Joint II SRO that carry a guideline value for 2024, ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value in this area is Rs 770 per sq.ft, placing Gandhi Street's 2024 figure below that median.

• Gokulam Colony (Ward-20): Rs 881 per sq.ft (2024)
• E.V.P Estate, Vallancheri (Ward -1): Rs 1,650 per sq.ft (2024)
• Gopula Krishna Nagar (Tai): Rs 881 per sq.ft (2024)
• Ettiamman Koil Street (Ward-21): Rs 770 per sq.ft (2024)
• Elangoadigal Street (Ward-20): Rs 881 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 to Rs 59,400. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers 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 for further assistance.

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

The guideline value is a crucial factor in the property registration process in Thailavaram. It serves as the basis for calculating stamp duty and registration fees when a property is bought or sold. The guideline value ensures that the transaction is recorded at a fair value, which is essential for both buyers and sellers.

When a property is registered, the guideline value helps determine the official value of the property for legal and taxation purposes. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be used for calculating the applicable duties and fees.

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.

Where can I find information about other streets in Thailavaram?

Information about other streets in Thailavaram can be found in the guideline value register, which lists various streets and their respective guideline values.

What is the stamp duty rate for property in Gandhi Street (Ward-21)?

The stamp duty rate for property in Gandhi Street (Ward-21) is 7%, calculated on the higher of the guideline value or the sale price.