Guideline Value for GANDHIPURAM

Gandhipuram guideline value

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

How the guideline value of Gandhipuram has changed

The guideline value of Gandhipuram has seen several revisions over the years. In 2002, the value was Rs 336 per sq.ft, which increased to Rs 369 per sq.ft in 2003, marking a 10% rise. By 2007, the value surged to Rs 500 per sq.ft, reflecting a 36% increase. The 2012 revision brought the value back to Rs 2,000 per sq.ft, a significant drop of 300% from the previous figure. In 2017, the value was revised to Rs 1,340 per sq.ft, representing a 49% increase. The most recent revisions show an increase to Rs 2,000 per sq.ft in 2023, followed by a further increase to Rs 2,200 per sq.ft in 2024, which is a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 555%. There are no figures available in the register for the years not mentioned in this context.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO carrying 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 of Gandhipuram is below this median.

• Gandhipuram Road: 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

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 cost for these fees to Rs 1,98,000. It is important to note that 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?

The Sub Registrar Office that covers Gandhipuram 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 is a crucial factor in the registration process when buying or selling property in Perambur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When registering a property, the guideline value is assessed, and the applicable fees are calculated based on this value or the sale price, whichever is higher. This ensures that the registration process is transparent and standardized across the region.

Frequently asked questions

What is the current guideline value of Gandhipuram?

The current guideline value of Gandhipuram 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 significantly from Rs 336 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 555% over the years.

What are the registration fees for property in Gandhipuram?

The registration fees for property in Gandhipuram depend on the guideline value. For example, a 1,000 sq.ft plot at the current rate would incur a total registration fee of Rs 1,98,000.

Which office handles property registration in Gandhipuram?

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

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the stamp duty and registration fees during property transactions, ensuring a standardized process for buyers and sellers in Perambur.