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 Vallancheri village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class II Type - I.

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

The guideline value for Gandhi Street has seen several revisions over the years. In 2012, the value was set at Rs 600 per sq.ft. This figure remained unchanged until the next revision in 2017, where it dropped to Rs 402 per sq.ft, marking a decrease of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 600 per sq.ft. The most recent revision in 2024 raised the guideline value to Rs 660 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for Gandhi Street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Vallancheri

In Vallancheri, there are 134 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 825 per sq.ft, placing Gandhi Street's 2024 figure below this median.

• Gokulam Colony (Ward-20): Rs 880 per sq.ft (2024)
• Evp Padma Avenue: Rs 1,650 per sq.ft (2024)
• E.V.P Estate, Vallancheri (Ward -1): Rs 1,650 per sq.ft (2024)
• Gopula Krishna Nagar (Tai): Rs 880 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)

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, while the registration fee at 2% would be Rs 13,200. Together, these fees total Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more accurate calculations.

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, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Vallancheri. It is used to determine the stamp duty and registration fees that are payable when buying or selling property. The guideline value ensures that the fees are calculated based on a standardized value set by the authorities, rather than the negotiated sale price.

When a property is registered, the guideline value is referenced to ascertain the applicable charges. This process helps maintain transparency and consistency in property transactions within the region.

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, indicating its suitability for residential development.

How is the stamp duty calculated for properties in Gandhi Street (Ward-21)?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 46,200.

Which office handles registrations for Gandhi Street (Ward-21)?

The Chengleput Joint II Sub Registrar Office handles registrations for Gandhi Street (Ward-21), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.