Guideline Value for Gandhi Market commer

Gandhi Market commer guideline value

The current guideline value for Gandhi Market commer is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Alandur village, under the Alandur SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Gandhi Market commer has changed

Over the years, the guideline value for Gandhi Market commer has seen several revisions. The earliest recorded figure is from 2012, where the guideline value was Rs 6,000 per sq.ft. This figure remained the same until the next revision in 2017, which saw a decrease to Rs 4,020 per sq.ft. However, from 2017 to 2023, the value increased significantly by 49% to reach Rs 6,000 per sq.ft. The latest revision in 2024 has further increased the guideline value to Rs 6,600 per sq.ft, marking a 10% rise from the previous year.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Alandur

Alandur village has a range of guideline values across its 40 streets, with the 2024 figures varying from Rs 3,900 to Rs 11,000 per sq.ft. The median value for these streets is Rs 5,000 per sq.ft, placing Gandhi Market commer above this median at Rs 6,600 per sq.ft.

• Eashwaran Koil Street: Rs 5,000 per sq.ft (2024)
• G.S.T. Road/mount road: Rs 11,000 per sq.ft (2024)
• G.S.T. RoadSOUTH SIDE LAWYER JAGANATHAN STREET: Rs 11,000 per sq.ft (2024)
• Gurupax Street: Rs 4,400 per sq.ft (2024)
• Dharmaraja Koil Street: Rs 5,000 per sq.ft (2024)
• Hussain Subedar Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Market commer

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total fees together to Rs 5,94,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gandhi Market commer?

The Sub Registrar Office covering Gandhi Market commer is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for further assistance.

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

The guideline value plays a crucial role when buying or selling property in Alandur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration requirements.

When a property is sold, the registration office uses the guideline value to calculate the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and that the necessary taxes are paid based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Gandhi Market commer?

The current guideline value of Gandhi Market commer is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 6,000 per sq.ft in 2012 to Rs 4,020 per sq.ft in 2017, then increased to Rs 6,000 per sq.ft in 2023, and finally to Rs 6,600 per sq.ft in 2024.

What is the land classification of Gandhi Market commer?

Gandhi Market commer is classified as Commercial Class I Type - I.

Where can I find the registration office for Gandhi Market commer?

The registration office for Gandhi Market commer is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 5,94,000.