Guideline Value for GANDHI STREET MAIN ROAD

Gandhi Street Main Road guideline value

The current guideline value of Gandhi Street Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in the Sholinganallur - 1 village and falls under the Neelankarai SRO. The land classification for this area is Residential Class II Type - III.

How the guideline value of Gandhi Street Main Road has changed

The guideline value for Gandhi Street Main Road has seen several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 2,000 per sq.ft. Prior to this, the register has no figure for this street in the revisions from 2017, 2012, 2007, 2003, and 2002.

In summary, the guideline value increased from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024. The previous revisions do not contain any figures for Gandhi Street Main Road, indicating that there were no recorded values for this street during those years.

Guideline values in Sholinganallur - 1

In the Sholinganallur - 1 village, there are 754 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, which aligns with the current value of Gandhi Street Main Road.

• Ganesh Nagar: Rs 3,300 per sq.ft (2024)
• Ganesh Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Ganesh Nagar Extension: Rs 3,300 per sq.ft (2024)
• Gangadharan Thottam: Rs 1,700 per sq.ft (2024)
• Gangaiamman Koil 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Gangai Amman Koil 1st Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Street Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gandhi Street Main Road?

The Sub Registrar Office that covers Gandhi Street Main Road is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a crucial factor in the registration process when buying or selling property in Sholinganallur - 1. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value based on current market conditions.

When you register a property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue based on the property's value as determined by the guideline rates.

Frequently asked questions

What is the current guideline value of Gandhi Street Main Road?

The current guideline value of Gandhi Street Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024. There are no recorded figures for this street in the revisions from 2017, 2012, 2007, 2003, and 2002.

What is the land classification for Gandhi Street Main Road?

The land classification for Gandhi Street Main Road is Residential Class II Type - III, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000. These fees are calculated based on the guideline value.

Where can I find the Sub Registrar Office for Gandhi Street Main Road?

The Sub Registrar Office covering Gandhi Street Main Road is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.