Guideline Value for Gandhi Memorial Nagar

Gandhi Memorial Nagar guideline value

The current guideline value of Gandhi Memorial Nagar is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Attanthangal village, under the jurisdiction of the Redhills SRO, classified as Residential Class III Type - I.

How the guideline value of Gandhi Memorial Nagar has changed

The guideline value of Gandhi Memorial Nagar has seen significant changes over the years. In the 2003 revision, the value was Rs 26 per sq.ft, which increased dramatically to Rs 200 per sq.ft in 2007. Following this, the value doubled to Rs 400 per sq.ft in the 2012 revision, but then decreased to Rs 268 per sq.ft in 2017. The value rose again to Rs 400 per sq.ft in 2023, and currently stands at Rs 440 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1592%. Notably, there is no figure available for the year 2002 in the register for this street.

Guideline values in Attanthangal

In Attanthangal, there are 80 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 880 per sq.ft, with a median value of Rs 880 per sq.ft. Gandhi Memorial Nagar's current guideline value is below this median.

• Gandhi Nagar: Rs 880 per sq.ft (2024)
• Eswari Nagar: Rs 880 per sq.ft (2024)
• Gopalapuram Nagar: Rs 550 per sq.ft (2024)
• Jai Nagar: Rs 550 per sq.ft (2024)
• Jothi Nagar: Rs 550 per sq.ft (2024)
• Jothipasu Nagar (Maruthupandi Nagar): Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Memorial Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty is calculated at 7%, resulting in Rs 30,800, and the registration fee is 2%, which is Rs 8,800. Therefore, the total cost for stamp duty and registration fees would be Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gandhi Memorial Nagar?

The Sub Registrar Office that covers Gandhi Memorial Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Attanthangal. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is officially recognized and documented.

When a property is sold, the guideline value helps in assessing the fair value of the property. It is essential for both buyers and sellers to be aware of the current guideline value to understand their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Gandhi Memorial Nagar?

The current guideline value of Gandhi Memorial Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2003, the guideline value has increased from Rs 26 per sq.ft to Rs 440 per sq.ft in 2024, reflecting an overall increase of 1592%.

What is the registration office for Gandhi Memorial Nagar?

The registration office for Gandhi Memorial Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Gandhi Memorial Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 4,40,000, the stamp duty would be Rs 30,800 at a rate of 7%.

What are the guideline values of other streets in Attanthangal?

Other streets in Attanthangal have varying guideline values, with rates ranging from Rs 440 to Rs 880 per sq.ft. For instance, Gandhi Nagar and Eswari Nagar have a guideline value of Rs 880 per sq.ft in 2024.