Guideline Value for GANDHI STREET

Gandhi Street guideline value

The current guideline value of Gandhi Street in Thiruvancheri village is Rs 1,100 per sq.ft, effective from the 2024 revision. This street falls under the Pallavaram SRO and is classified as Residential Class III Type - I.

How the guideline value of Gandhi Street has changed

The guideline value for Gandhi Street has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 200 per sq.ft. This figure saw a significant increase in the 2012 revision, where it rose to Rs 1,000 per sq.ft, marking a 400% increase. However, in 2017, the value decreased to Rs 670 per sq.ft, reflecting a decline of 33%. The 2023 revision brought the value back up to Rs 1,000 per sq.ft, and in the latest 2024 revision, it increased further to Rs 1,100 per sq.ft, representing a 10% rise from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for Gandhi Street. Overall, from 2007 to 2024, the guideline value has increased by 450%.

Guideline values in Thiruvancheri

In Thiruvancheri, there are 70 streets under the Pallavaram SRO with guideline values ranging from Rs 1,100 to Rs 5,000 per sq.ft. The median guideline value for these streets is Rs 1,980 per sq.ft, placing Gandhi Street's 2024 figure below that median.

• E.V.R.Street: Rs 1,980 per sq.ft (2024)
• Gopalakrishnan Street: Rs 1,980 per sq.ft (2024)
• Govindaraj Street: Rs 1,100 per sq.ft (2024)
• ESIC Nagar: Rs 2,530 per sq.ft (2024)
• Irataimalai Srinivasan Street: Rs 1,980 per sq.ft (2024)
• Iyyanar Street: Rs 1,980 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 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, while the registration fee at 2% would be Rs 22,000. Together, the total cost for these fees would be Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating these fees, 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 details.

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

The guideline value is a crucial factor when registering property transactions in Thiruvancheri. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property.

When buyers and sellers enter into a transaction, the guideline value is used to ensure that the appropriate fees are calculated based on the established rates. This helps maintain transparency and accountability in property dealings within the region.

Frequently asked questions

What is the current guideline value of Gandhi Street?

The current guideline value of Gandhi Street is Rs 1,100 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 200 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 450% over this period.

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

Other streets in Thiruvancheri include E.V.R.Street and Gopalakrishnan Street, both at Rs 1,980 per sq.ft in 2024, while Govindaraj Street matches Gandhi Street at Rs 1,100 per sq.ft.

What fees are associated with buying property on Gandhi Street?

The fees associated with buying property include a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office for Gandhi Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.