Guideline Value for GANDHI STREET

Gandhi Street guideline value

The current guideline value of Gandhi Street in Vengathur village is Rs 1,300 per sq.ft, effective from 1 July 2024. This street falls under the Manavalanagar SRO and is classified as Commercial Class I Type - III.

How the guideline value of Gandhi Street has changed

The guideline value for Gandhi Street has seen several revisions over the years. The earliest recorded revision was in 2007, where the value was Rs 150 per sq.ft. This increased significantly to Rs 1,300 per sq.ft in 2012, marking a substantial rise of 767%. However, it then decreased to Rs 871 per sq.ft in 2017, a reduction of 33%. The value remained at Rs 1,300 per sq.ft in both 2023 and the latest revision in 2024, indicating no change between these two years.

Notably, there are no figures available for the revisions in 2002 and 2003 for this street. From 2017 to 2023, the guideline value increased by 49%, and overall, from 2007 to 2024, it has risen by 767%.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO with a 2024 guideline value ranging from Rs 500 to Rs 2,000 per sq.ft. The median value is Rs 1,000 per sq.ft, positioning Gandhi Street's 2024 figure above this median.

• Gandhi Street (Kabilar Nagar): Rs 800 per sq.ft (2024)
• Ganesan Street: Rs 1,300 per sq.ft (2024)
• GANGAIAMMAN KOIL STREET(a)BHARTHASARATHY STREET: Rs 1,300 per sq.ft (2024)
• Gangatheeswarar Koil Street: Rs 1,300 per sq.ft (2024)
• Elumalai Street: Rs 600 per sq.ft (2024)
• Elumalai Naicker Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Street

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the 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 Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO online for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vengathur. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property transactions.

When a property is registered, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that all property transactions are fairly assessed according to 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 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2012, then decreased to Rs 871 per sq.ft in 2017, and remained at Rs 1,300 per sq.ft in 2023 and 2024.

What are the other streets in Vengathur with their guideline values?

Other streets in Vengathur include Gandhi Street (Kabilar Nagar) at Rs 800 per sq.ft, Ganesan Street at Rs 1,300 per sq.ft, Gangatheeswarar Koil Street at Rs 1,300 per sq.ft, and Elumalai Street at Rs 600 per sq.ft.

What is the registration fee for property in Gandhi Street?

The registration fee for property transactions is calculated based on the guideline value. For example, on a 1,000 sq.ft plot valued at Rs 1,300 per sq.ft, the total registration fee would be Rs 26,000.

Which office handles registrations for Gandhi Street?

The Manavalanagar Sub Registrar Office handles registrations for Gandhi Street, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.