Guideline Value for GANDHIPURAM ROAD

Gandhipuram Road guideline value

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

How the guideline value of Gandhipuram Road has changed

The guideline value for Gandhipuram Road has undergone several revisions over the years. In 2007, the value was Rs 500 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a 300% rise. However, it saw a decrease to Rs 1,340 per sq.ft in 2017, a drop of 33%. The value then increased to Rs 2,000 per sq.ft in 2023, followed by a further increase to Rs 2,200 per sq.ft in 2024, reflecting a 10% rise.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 340%.

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 Gandhipuram Road is below this median.

• Gandhipuram: Rs 2,200 per sq.ft (2024)
• Gandhi Nagar 9th Street: Rs 2,200 per sq.ft (2024)
• Gandhi Nagar 8th Street: Rs 2,200 per sq.ft (2024)
• Gandhi Nagar 7th Street: Rs 2,200 per sq.ft (2024)
• Gandhi Nagar 6th Street: Rs 2,200 per sq.ft (2024)
• Gandhi Nagar 5th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhipuram Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees 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 more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gandhipuram Road?

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

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

The guideline value serves as a benchmark for property transactions in Perambur. When buying or selling a property, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that the transaction is recorded at a fair value as per government regulations.

It is essential for buyers and sellers to be aware of the guideline value, as it directly impacts the costs associated with property registration. Understanding these values can help in making informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of Gandhipuram Road?

The current guideline value of Gandhipuram Road 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 changed from Rs 500 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 340% over the years.

What are the stamp duty and registration fees for property in Gandhipuram Road?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 22,00,000, the total fees would amount to Rs 1,98,000.

Which Sub Registrar Office covers Gandhipuram Road?

The Purasaivakkam Sub Registrar Office covers Gandhipuram Road, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification for Gandhipuram Road?

Gandhipuram Road is classified as Residential Class IV Type - I, which indicates its designation for residential use within the area.