Guideline Value for GANDHIPURAM IST STREET

Gandhipuram Ist Street guideline value

The current guideline value of Gandhipuram Ist Street is Rs 4,400 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 Class III Type - III.

How the guideline value of Gandhipuram Ist Street has changed

In the 2012 revision, the guideline value was Rs 4,000 per sq.ft. This figure decreased to Rs 2,680 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, reaching Rs 4,000 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no registered figures for Gandhipuram Ist Street in the years 2002, 2003, and 2007.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO, with guideline values ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median guideline value for these streets is Rs 11,000 per sq.ft, placing Gandhipuram Ist Street's 2024 figure below that median.

• 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)
• Gandhi Street: Rs 9,900 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 Gandhipuram Ist Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total cost for these fees to Rs 3,96,000. 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 more detailed calculations.

Which Sub Registrar Office covers Gandhipuram Ist Street?

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

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

The guideline value is a crucial factor during the registration of property transactions in Tnagar. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential costs involved in property transactions. It is important for buyers and sellers to be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Gandhipuram Ist Street?

The current guideline value of Gandhipuram Ist Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then increased to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

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

Several other streets in Tnagar have the same guideline value of Rs 4,400 per sq.ft in 2024, including Gandhi Puram Iind Street, Gandhipuram Iiird Street, Gandhipuram Cross Street, Gangai Amman Koil Street, and Gankaikaraipuram.

What is the registration office for Gandhipuram Ist Street?

The registration office for Gandhipuram Ist Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.

How is stamp duty calculated for properties in Gandhipuram Ist Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 44,00,000, the stamp duty would be Rs 3,08,000 at 7%.