Guideline Value for Gandhi Irwin Salai

Gandhi Irwin Salai guideline value

The current guideline value of Gandhi Irwin Salai is Rs 22,000 per sq.ft, effective from 1 July 2024. This street is located in Egmore village and falls under the Periamet SRO. The land classification for this area is Commercial Special Type - I.

How the guideline value of Gandhi Irwin Salai has changed

The guideline value for Gandhi Irwin Salai has seen significant changes over the years. Starting from Rs 1,865 per sq.ft in 2002, it increased to Rs 2,056 per sq.ft in 2003, marking a 10% rise. The value then rose dramatically to Rs 5,000 per sq.ft in 2007, reflecting a 143% increase. Following this, it surged to Rs 20,000 per sq.ft in 2012, a remarkable 300% increase from the previous revision. However, it decreased to Rs 13,400 per sq.ft in 2017, which was a 33% drop. The value then climbed to Rs 20,000 per sq.ft in 2023, and most recently, it has increased to Rs 22,000 per sq.ft in 2024, representing a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 1080%. The register has no figures for the years not mentioned in this overview.

Guideline values in Egmore

In Egmore village, there are 465 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 7,100 per sq.ft, placing Gandhi Irwin Salai's 2024 figure above that median.

• Gajalakshmi Street: Rs 8,300 per sq.ft (2024)
• Ethiraj Salai(a) commander in chief road: Rs 18,100 per sq.ft (2024)
• Ethiraj Lane: Rs 13,500 per sq.ft (2024)
• Elllappa Naicken 2nd lane: Rs 7,100 per sq.ft (2024)
• Ellispuram: Rs 3,400 per sq.ft (2024)
• Ellappa Naicken street: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Irwin Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 22,000 per sq.ft, the total guideline value amounts to Rs 2,20,00,000. The stamp duty at 7% would be Rs 15,40,000, while the registration fee at 2% would be Rs 4,40,000, bringing the total fees together to Rs 19,80,000. It is important to note that the 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 Irwin Salai?

The Sub Registrar Office covering Gandhi Irwin Salai is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Egmore. It determines the amount of stamp duty and registration fees that must be paid, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property is registered, the guideline value helps ensure that the transaction is recorded at a fair value, reflecting the local market conditions. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Gandhi Irwin Salai?

The current guideline value of Gandhi Irwin Salai is Rs 22,000 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 1,865 per sq.ft in 2002 to Rs 22,000 per sq.ft in 2024, reflecting an overall increase of 1080% over the years.

What are the stamp duty and registration fees for properties in Gandhi Irwin Salai?

For a property valued at Rs 2,20,00,000, the stamp duty at 7% would be Rs 15,40,000, and the registration fee at 2% would be Rs 4,40,000, totaling Rs 19,80,000.

Which office handles property registration for Gandhi Irwin Salai?

The Periamet Sub Registrar Office handles property registration for Gandhi Irwin Salai, located at 1103, Poonamallee High Road, Chennai-600 003.

How is the guideline value determined for properties in Egmore?

The guideline value for properties in Egmore is determined by the Registration Department's guideline value register, which reflects the local market conditions and land classifications.