Guideline Value for GANDHI STREET

Gandhi Street guideline value

The current guideline value of Gandhi Street in Thiruporur village is Rs 880 per sq.ft, effective from 1 July 2024. This street falls under the Thiruporur 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 seen several revisions over the years. In the 2007 revision, the value was set at Rs 300 per sq.ft. This increased significantly to Rs 800 per sq.ft in 2012, marking a rise of 167%. However, in the 2017 revision, the value decreased to Rs 536 per sq.ft, a drop of 33%. The 2023 revision brought the value up to Rs 800 per sq.ft again, and the most recent revision in 2024 set it at Rs 880 per sq.ft, reflecting a 10% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the 2024 revision, there has been a substantial increase of 193%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thiruporur

In Thiruporur, there are 31 streets under the Thiruporur SRO that have a 2024 guideline value ranging from Rs 495 to Rs 4,500 per sq.ft. The median value is Rs 880 per sq.ft, which is equal to the current guideline value of Gandhi Street.

• Gokul Avenue: Rs 1,320 per sq.ft (2024)
• Eri Karai Street: Rs 660 per sq.ft (2024)
• East Mada Street: Rs 880 per sq.ft (2024)
• Harijan Colony: Rs 495 per sq.ft (2024)
• Illalore Road: Rs 880 per sq.ft (2024)
• Isha Avni: Rs 1,650 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 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total cost for these fees to Rs 79,200. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Gandhi Street?

The Sub Registrar Office that covers Gandhi Street is the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thiruporur. 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 registration office uses the guideline value to calculate the applicable fees, ensuring that the transaction is recorded accurately. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Gandhi Street?

The current guideline value of Gandhi Street is Rs 880 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed in recent years?

Since 2017, the guideline value has increased significantly, with a rise of 49% from Rs 536 per sq.ft in 2017 to Rs 800 per sq.ft in 2023, and then to Rs 880 per sq.ft in 2024.

What is the land classification of Gandhi Street?

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

Where can I find the Thiruporur Sub Registrar Office?

The Thiruporur Sub Registrar Office is located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a property valued at Rs 8,80,000, the stamp duty would be 7% of that amount.