Guideline Value for GANDHI STREET

Gandhi Street guideline value

The current guideline value of Gandhi Street in Thundalam village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - II.

How the guideline value of Gandhi Street has changed

Over the years, the guideline value of Gandhi Street has seen several revisions. The earliest recorded revision was in 2012, where the guideline value was Rs 1,500 per sq.ft. This figure remained until the next revision in 2017, which saw a decrease to Rs 1,005 per sq.ft. In 2023, the value increased to Rs 1,500 per sq.ft again, followed by a rise to Rs 1,650 per sq.ft in 2024. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%. The transition from 2023 to 2024 marked a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10% despite the dip in 2017.

Guideline values in Thundalam

In Thundalam, there are 97 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,870 per sq.ft, placing Gandhi Street's 2024 figure below this median.

• Fair Land: Rs 2,750 per sq.ft (2024)
• Erikari Street: Rs 1,650 per sq.ft (2024)
• Dhanalakshmi Avenue: Rs 2,200 per sq.ft (2024)
• Bharathiyar Street: Rs 1,650 per sq.ft (2024)
• Balaji Nagar Thiruvalluvar Street: Rs 2,750 per sq.ft (2024)
• Balaji Nagar Thilagar Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty is charged at 7%, totaling Rs 1,15,500, and the registration fee is 2%, which amounts to Rs 33,000. Therefore, the total cost for stamp duty and registration fee together is Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Gandhi Street?

The Sub Registrar Office that covers Gandhi Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Thundalam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is transparent and fair.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial obligations involved in the transaction, based on the established guideline values.

Frequently asked questions

What is the current guideline value of Gandhi Street?

The current guideline value of Gandhi Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,650 per sq.ft in 2024, with various revisions in between, including a dip in 2017 to Rs 1,005 per sq.ft.

What is the median guideline value in Thundalam?

The median guideline value for streets in Thundalam is Rs 1,870 per sq.ft, which means Gandhi Street's current value is below this median.

What are the stamp duty and registration fees for property in Gandhi Street?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Where is the Sub Registrar Office for Gandhi Street located?

The Sub Registrar Office for Gandhi Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.