Guideline Value for GANDHI STREET

Gandhi Street guideline value

The current guideline value of Gandhi Street is Rs 9,900 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village, under the Thiyagaraya nagar SRO, and is classified as Residential Special Type - II.

How the guideline value of Gandhi Street has changed

The guideline value for Gandhi Street has undergone several revisions over the years. In 2002, the value was set at Rs 1,562 per sq.ft. This increased to Rs 1,900 per sq.ft in 2003, marking a change of +22%. The value then rose to Rs 2,000 per sq.ft in 2007, which was a +5% increase. Following this, there was a significant jump to Rs 9,000 per sq.ft in 2012, reflecting a +350% change. However, the value decreased to Rs 6,030 per sq.ft in 2017, which was a -33% change. In 2023, the guideline value increased to Rs 9,000 per sq.ft, representing a +49% change. The latest revision in 2024 set the value at Rs 9,900 per sq.ft, marking a +10% increase from the previous year.

There are no figures available for the revisions in the years not listed above. The overall change from 2002 to 2024 is +534%.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median value in this area is Rs 11,000 per sq.ft, making the guideline value of Gandhi Street below this median.

• Gandhipuram Ist Street: Rs 4,400 per sq.ft (2024)
• Gandhi Puram Iind Street: Rs 4,400 per sq.ft (2024)
• Gandhipuram Iiird Street: Rs 4,400 per sq.ft (2024)
• Gandhipuram Cross Street: Rs 4,400 per sq.ft (2024)
• Gangai Amman Koil Street: Rs 4,400 per sq.ft (2024)
• Gankaikaraipuram: Rs 4,400 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 9,900 per sq.ft, the guideline value totals Rs 99,00,000. The stamp duty at 7% would be Rs 6,93,000, and the registration fee at 2% would be Rs 1,98,000, bringing the total to Rs 8,91,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gandhi Street?

The Sub Registrar Office that covers Gandhi Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Tnagar. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid. Buyers and sellers should be aware that the guideline value can significantly impact the overall costs involved in a property transaction.

When registering a property, the authorities will assess the guideline value to calculate the applicable duties. This ensures that the registration process is transparent and based on established values for properties in the area.

Frequently asked questions

What is the current guideline value of Gandhi Street?

The current guideline value of Gandhi Street is Rs 9,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,562 per sq.ft in 2002 to Rs 9,900 per sq.ft in 2024, reflecting an overall increase of +534% over the years.

What is the median guideline value in Tnagar?

The median guideline value in Tnagar is Rs 11,000 per sq.ft, which is higher than the current value of Gandhi Street.

What are the stamp duty rates for properties in Gandhi Street?

The stamp duty for properties in Gandhi Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Thiyagaraya nagar Sub Registrar Office located?

The Thiyagaraya nagar Sub Registrar Office is located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.