Guideline Value for GANDHI STREET

Gandhi Street guideline value

The current guideline value of Gandhi Street in Kodivalasa village, under the Pallipattu SRO, is Rs 250 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Gandhi Street has changed

The guideline value for Gandhi Street has seen several revisions over the years. In the 2007 revision, the value was Rs 100 per sq.ft, which increased significantly to Rs 250 per sq.ft in the 2012 revision, marking a 150% increase. However, in the 2017 revision, the value dropped to Rs 167 per sq.ft, a decrease of 33%. The value then rose to Rs 250 per sq.ft in the 2023 revision, remaining unchanged in the 2024 revision.

From the 2017 revision to the 2023 revision, there was a 50% increase, and the overall change from the 2007 revision to the 2024 revision is a 150% increase. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Kodivalasa

In Kodivalasa, there are 17 streets under the Pallipattu SRO that carry a 2024 guideline value ranging from Rs 175 to Rs 250 per sq.ft, with a median value of Rs 200 per sq.ft. Gandhi Street's 2024 figure is above this median.

• Bigstreet: Rs 250 per sq.ft (2024)
• Bharathinagar: Rs 200 per sq.ft (2024)
• Bazaarstreet: Rs 250 per sq.ft (2024)
• Balijastreet: Rs 250 per sq.ft (2024)
• Kodivalasaroad: Rs 250 per sq.ft (2024)
• Annastreet (A)pushkranistreet: Rs 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 rate of Rs 250 per sq.ft, the guideline value amounts to Rs 2,50,000. The stamp duty, charged at 7%, would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total to Rs 22,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Gandhi Street?

The Sub Registrar Office that covers Gandhi Street is the Pallipattu Sub Registrar Office, located at Nagiri Road, Surajapettai, Pallipattu Taluk, Thiruvallur District-631 207, Chennai registration zone. You can find your SRO for more information.

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

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

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which is essential for both the buyer and seller. This helps maintain transparency in property dealings and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Gandhi Street?

The current guideline value of Gandhi Street is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent revisions showing a 150% increase from Rs 100 per sq.ft in 2007 to Rs 250 per sq.ft in 2024.

What is the land classification for Gandhi Street?

The land classification for Gandhi Street is Residential Class I Type - I.

Where can I find the registration office for Gandhi Street?

The registration office for Gandhi Street is the Pallipattu Sub Registrar Office, located at Nagiri Road, Surajapettai, Pallipattu Taluk, Thiruvallur District-631 207, Chennai registration zone.

How is the stamp duty calculated for properties in Gandhi Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 250 per sq.ft, the total guideline value is Rs 2,50,000, leading to a stamp duty of Rs 17,500.