Guideline Value for GANDHI STREET

Gandhi Street guideline value

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

How the guideline value of Gandhi Street has changed

Over the years, the guideline value of Gandhi Street has seen significant changes. In the 2003 revision, the value was Rs 173 per sq.ft. This increased to Rs 500 per sq.ft in 2007, and then saw a substantial rise of 500% to Rs 3,000 per sq.ft in 2012. However, the value decreased by 33% to Rs 2,010 per sq.ft in 2017. The 2023 revision marked another increase to Rs 3,000 per sq.ft, followed by a 10% rise to the current value of Rs 3,300 per sq.ft in 2024.

From 2003 to 2024, the overall change in guideline value is an increase of 1808%. The register does not provide figures for the year 2002 for this street.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 7,200 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Gandhi Street's 2024 figure above that median.

• Gangai Amman Koil Cross Street: Rs 2,200 per sq.ft (2024)
• Gangai Amman Koil Road (Kuppam Road): Rs 2,200 per sq.ft (2024)
• Gangai Amman Koil Street: Rs 2,200 per sq.ft (2024)
• Gandhi Avenue: Rs 3,300 per sq.ft (2024)
• Gangai Amman Koil Street (Near Meenavar Kuppam): Rs 2,200 per sq.ft (2024)
• Gangai Amman Koil Street (Near Shalimar Garden): Rs 2,200 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 and 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 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 information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Enjambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the state receives the appropriate revenue from property transactions.

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 increased from Rs 173 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 1808% over the years.

What is the land classification for Gandhi Street?

Gandhi Street is classified as Residential Class I Type - II, indicating its suitability for residential development.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

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

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