Guideline Value for GANDHI STREET

Gandhi Street guideline value

The current guideline value of Gandhi Street in Kilkattalai village is Rs 3,080 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class I Type - I.

How the guideline value of Gandhi Street has changed

The guideline value for Gandhi Street has undergone several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 2,800 per sq.ft. This was followed by a decrease to Rs 1,876 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,800 per sq.ft, a rise of 49%. The most recent revision in 2024 set the value at Rs 3,080 per sq.ft, reflecting a 10% increase from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 10%.

Guideline values in Kilkattalai

Kilkattalai has a total of 194 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median guideline value in the village is Rs 2,530 per sq.ft, placing Gandhi Street's 2024 figure above this median.

• Ganesh Nagar: Rs 4,125 per sq.ft (2024)
• Gandhi Road: Rs 2,200 per sq.ft (2024)
• Gandhi Nagar Main Road: Rs 4,125 per sq.ft (2024)
• Ganga Garden: Rs 1,980 per sq.ft (2024)
• Gandhi Nagar 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,080 per sq.ft, the total guideline value would be Rs 30,80,000. The stamp duty at 7% would amount to Rs 2,15,600, and the registration fee at 2% would be Rs 61,600, leading to a total of Rs 2,77,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, 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 Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Kilkattalai. It is used to calculate the stamp duty and registration fees, which are mandatory when buying or selling property. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property is registered, the guideline value serves as a benchmark for determining the transaction value. It is essential to understand that the stamp duty is charged based on the higher value between the guideline value and the actual sale price.

Frequently asked questions

What is the current guideline value of Gandhi Street?

The current guideline value of Gandhi Street is Rs 3,080 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,800 per sq.ft in 2012 to Rs 1,876 per sq.ft in 2017, then back to Rs 2,800 per sq.ft in 2023, and finally to Rs 3,080 per sq.ft in 2024.

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

Other streets in Kilkattalai include Ganesh Nagar at Rs 4,125 per sq.ft, Gandhi Road at Rs 2,200 per sq.ft, and Gandhi Nagar Main Road at Rs 4,125 per sq.ft, among others.

What is the registration fee for property in Gandhi Street?

The registration fee for property in Gandhi Street is calculated based on the guideline value. For example, for a property valued at Rs 30,80,000, the registration fee would be Rs 61,600.

Which office should I approach for registration in Gandhi Street?

The registration for properties in Gandhi Street should be done at the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.