Guideline Value for GANDHI STREET THIRUVALLUVAR NAGAR

Gandhi Street Thiruvalluvar Nagar guideline value

The current guideline value for Gandhi Street Thiruvalluvar Nagar is Rs 935 per sq.ft, effective from 1 July 2024. This street is located in Vilingiyambakkam village under the Avadi SRO, and it falls under the Residential Class II Type - II land classification.

How the guideline value of Gandhi Street Thiruvalluvar Nagar has changed

The guideline value for Gandhi Street Thiruvalluvar Nagar has seen several revisions over the years. In 2003, the value was Rs 215 per sq.ft, which increased to Rs 350 per sq.ft in 2007, marking a 63% rise. The value then surged significantly to Rs 850 per sq.ft in 2012, reflecting a 143% increase. However, it dropped to Rs 569 per sq.ft in 2017, a decrease of 33%. The value further increased to Rs 850 per sq.ft in 2023, followed by a rise to Rs 935 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 335%. The register does not have a figure for the year 2002 for this street.

Guideline values in Vilingiyambakkam

In Vilingiyambakkam, there are 252 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 4,400 per sq.ft. The median value for these streets is Rs 935 per sq.ft, which aligns with the current guideline value for Gandhi Street Thiruvalluvar Nagar.

• Ganesh Nagar: Rs 1,310 per sq.ft (2024)
• Gandhi Nagar (West): Rs 1,625 per sq.ft (2024)
• Gandhi Nagar (M.T.H.Road Northern Side): Rs 1,625 per sq.ft (2024)
• Gandhi Nagar: Rs 1,625 per sq.ft (2024)
• Gandhi 2nd Cross St: Rs 1,625 per sq.ft (2024)
• Gandhi 1st Cross St: Rs 1,625 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Street Thiruvalluvar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 935 per sq.ft, the total guideline value would be Rs 9,35,000. The stamp duty at 7% would amount to Rs 65,450, and the registration fee at 2% would be Rs 18,700, resulting in a total of Rs 84,150. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gandhi Street Thiruvalluvar Nagar?

The Sub Registrar Office that covers Gandhi Street Thiruvalluvar Nagar is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Vilingiyambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official registry.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Gandhi Street Thiruvalluvar Nagar?

The current guideline value for Gandhi Street Thiruvalluvar Nagar is Rs 935 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 215 per sq.ft in 2003 to Rs 935 per sq.ft in 2024, reflecting an overall increase of 335% over the years.

What is the land classification for Gandhi Street Thiruvalluvar Nagar?

Gandhi Street Thiruvalluvar Nagar is classified as Residential Class II Type - II.

Which Sub Registrar Office is responsible for this area?

The Avadi Sub Registrar Office is responsible for Gandhi Street Thiruvalluvar Nagar, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty of Rs 65,450.