Guideline Value for GANDHI STREET

Gandhi Street guideline value

The current guideline value of Gandhi Street in Chemmancheri village is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Neelankarai SRO and is classified as Residential Class I Type - II.

How the guideline value of Gandhi Street has changed

The guideline value for Gandhi Street has seen several revisions over the years. In the 2003 revision, the guideline value was Rs 87 per sq.ft. This increased significantly to Rs 200 per sq.ft in 2007, marking a rise of 130%. The value then surged to Rs 2,000 per sq.ft in 2012, reflecting a remarkable increase of 900%. However, it dropped to Rs 1,340 per sq.ft in 2017, a decrease of 33%. The 2023 revision set the value at Rs 3,000 per sq.ft, which was a substantial increase of 124% from the previous figure. The most recent revision in 2024 has further raised the guideline value to Rs 3,300 per sq.ft, representing a 10% increase from 2023.

It is important to note that there is no figure available for Gandhi Street in the 2002 revision. Overall, from 2003 to 2024, the guideline value has increased by an impressive 3693%.

Guideline values in Chemmancheri

In Chemmancheri, there are 195 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 6,600 per sq.ft as of 2024. The median guideline value for the village is Rs 1,700 per sq.ft, placing Gandhi Street's 2024 figure above this median.

• Ganesan / Mohan Garden: Rs 1,700 per sq.ft (2024)
• Gandhi Salai: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar Co-Opearative Society(Sholinganallur Co - Op Maha Nagar: Rs 2,800 per sq.ft (2024)
• Ganesh Ram Garden: Rs 1,100 per sq.ft (2024)
• Ganapathy Syndicate Colony: Rs 1,700 per sq.ft (2024)
• Ganapathy Nagar: Rs 1,800 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 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gandhi Street?

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

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

The guideline value plays a crucial role when buying or selling property in Chemmancheri. It is used to determine the stamp duty and registration fees applicable during the registration process. Buyers and sellers must be aware of the current guideline value to ensure accurate calculations of these fees.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Gandhi Street?

The current guideline value of Gandhi Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 87 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 3693% over these years.

What is the land classification for Gandhi Street?

Gandhi Street is classified as Residential Class I Type - II under the Neelankarai SRO.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Where is the Sub Registrar Office for Gandhi Street located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.