Guideline Value for Gandhi Avenue

Gandhi Avenue guideline value

The current guideline value of Gandhi Avenue is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village under the Tambaram Joint 1 SRO and is classified as Residential Class II Type - II.

How the guideline value of Gandhi Avenue has changed

In the 2012 revision, the guideline value was Rs 1,000 per sq.ft. This figure remained the same in the 2012 revision and then decreased to Rs 670 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,000 per sq.ft, reflecting a 49% rise. The most recent revision in 2024 has set the guideline value at Rs 1,100 per sq.ft, which is a 10% increase from the previous year.

The register has no figures for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO with 2024 guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft, where the median is Rs 1,650 per sq.ft. Gandhi Avenue's 2024 figure is below this median.

• Gandhi Street: Rs 2,750 per sq.ft (2024)
• Gandhi Street 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Gandhi Street 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• E.V.Perumalsamy St ( Sri Manakula vinayagar St): Rs 1,100 per sq.ft (2024)
• Evalappan St: Rs 1,650 per sq.ft (2024)
• Ganga Narayanan St: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Avenue

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gandhi Avenue?

The Sub Registrar Office that covers Gandhi Avenue is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Chitlapakkam. It serves as a benchmark for calculating the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to determine the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Gandhi Avenue?

The current guideline value of Gandhi Avenue is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Gandhi Avenue has seen various changes, starting from Rs 1,000 per sq.ft in 2012, dropping to Rs 670 per sq.ft in 2017, and then rising to Rs 1,100 per sq.ft in 2024.

What is the land classification of Gandhi Avenue?

Gandhi Avenue is classified as Residential Class II Type - II, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Gandhi Avenue?

The Sub Registrar Office for Gandhi Avenue is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.

How is stamp duty calculated for properties in Gandhi Avenue?

Stamp duty for properties in Gandhi Avenue is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 11,00,000 would incur a stamp duty of Rs 77,000 at 7%.