Guideline Value for Gandhi Nagar (Slum Board Allotment Only)

Gandhi Nagar (Slum Board Allotment Only) guideline value

The current guideline value of Gandhi Nagar (Slum Board Allotment Only) is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Ayanavaram village under the AnnaNagar SRO, classified as Residential Class III Type - I.

How the guideline value of Gandhi Nagar (Slum Board Allotment Only) has changed

The guideline value for Gandhi Nagar has seen several revisions over the years. In 2007, the value was Rs 1,400 per sq.ft, which increased to Rs 2,500 per sq.ft in 2012, marking a significant rise of 79%. However, this value dropped to Rs 1,675 per sq.ft in 2017, a decrease of 33%. The value then rose sharply to Rs 2,500 per sq.ft in 2023, a 49% increase, and has now reached Rs 2,700 per sq.ft in 2024, reflecting an 8% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Ayanavaram

Ayanavaram has a total of 369 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,700 to Rs 20,000 per sq.ft as per the 2024 revision. The median guideline value in this area is Rs 4,900 per sq.ft, placing Gandhi Nagar's current value below this median.

• Ganapathy Colony- 2nd Main Road: Rs 12,100 per sq.ft (2024)
• E.V.R. Street, Chennai 82: Rs 4,400 per sq.ft (2024)
• G Block 1st Avenue: Rs 20,000 per sq.ft (2024)
• G Block 9th Street Extension: Rs 20,000 per sq.ft (2024)
• Gel. Coacher Street, Chennai 82: Rs 2,700 per sq.ft (2024)
• G.K.M. Colony, Chennai 82 & Streets: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Nagar (Slum Board Allotment Only)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gandhi Nagar (Slum Board Allotment Only)?

The Sub Registrar Office that covers Gandhi Nagar is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Ayanavaram. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value serves as a benchmark for calculating stamp duty and registration fees. Buyers must be aware that these fees are based on the higher of the guideline value or the agreed sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Gandhi Nagar?

The current guideline value of Gandhi Nagar (Slum Board Allotment Only) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,400 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 93% over the years.

What are the stamp duty and registration fees for property in Gandhi Nagar?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 27,00,000, the total fees would amount to Rs 2,43,000.

Which office handles property registrations for Gandhi Nagar?

The AnnaNagar Sub Registrar Office handles property registrations for Gandhi Nagar, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

Where does Gandhi Nagar's guideline value stand compared to other streets in Ayanavaram?

Gandhi Nagar's guideline value of Rs 2,700 per sq.ft is below the median guideline value of Rs 4,900 per sq.ft for the 369 streets in Ayanavaram.