Guideline Value for GANDHIJI MAIN STREET

Gandhiji Main Street guideline value

The current guideline value of Gandhiji Main Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the Purasaivakkam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Gandhiji Main Street has changed

The guideline value for Gandhiji Main Street has seen several revisions over the years. In 2007, the value was Rs 550 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, this value dropped to Rs 1,340 per sq.ft in 2017. The 2023 revision brought the value to Rs 2,000 per sq.ft, followed by the current 2024 revision, which set the value at Rs 2,200 per sq.ft. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2007 to 2012, the value increased by 264%, but then saw a decrease of 33% from 2012 to 2017. The subsequent increase from 2017 to 2023 was 49%, and the latest revision from 2023 to 2024 reflects a 10% increase. Overall, the guideline value has risen by 300% from 2007 to 2024.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value for Gandhiji Main Street is below this median.

• Gandhiji Cross Street: Rs 2,200 per sq.ft (2024)
• Gandhiji 7th Street: Rs 2,200 per sq.ft (2024)
• Gandhiji 6th Street: Rs 2,200 per sq.ft (2024)
• Gandhiji 5th Street: Rs 2,200 per sq.ft (2024)
• Gandhiji 4th Street: Rs 2,200 per sq.ft (2024)
• Gandhiji 3rd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhiji Main Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gandhiji Main Street?

The Sub Registrar Office that covers Gandhiji Main Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process for property transactions in Perambur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the legal and financial implications of the transaction. Buyers should be aware that the stamp duty is calculated based on the higher value between the guideline value and the sale price.

Frequently asked questions

What is the current guideline value of Gandhiji Main Street?

The current guideline value of Gandhiji Main Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 550 per sq.ft in 2007, increasing to Rs 2,200 per sq.ft in 2024, with various changes in between.

What are the other streets in Perambur with the same guideline value?

Several other streets in Perambur also have a guideline value of Rs 2,200 per sq.ft in 2024, including Gandhiji Cross Street, Gandhiji 7th Street, Gandhiji 6th Street, Gandhiji 5th Street, Gandhiji 4th Street, and Gandhiji 3rd Street.

What is the registration fee for property in Gandhiji Main Street?

The registration fee for property transactions is calculated at 2% of the guideline value, which would be Rs 44,000 for a 1,000 sq.ft plot at the current rate.

Which office handles registrations for Gandhiji Main Street?

The Purasaivakkam Sub Registrar Office handles registrations for Gandhiji Main Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.