Guideline Value for Gandhi Nagar - Gangadharan Street

Gandhi Nagar - Gangadharan Street guideline value

The current guideline value for Gandhi Nagar - Gangadharan Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village and falls under the Virugambakkam SRO. The land classification is Residential Class II Type - I.

How the guideline value of Gandhi Nagar - Gangadharan Street has changed

The guideline value for Gandhi Nagar - Gangadharan Street has undergone several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 808 per sq.ft. It increased to Rs 883 per sq.ft in 2003, marking a change of +9%. The value then rose significantly to Rs 1,250 per sq.ft in 2007, reflecting a +42% increase. The 2012 revision saw a notable rise to Rs 4,000 per sq.ft, which was a +220% change from the previous figure. However, in 2017, the value dropped to Rs 2,680 per sq.ft, indicating a -33% change. The 2023 revision set the value at Rs 4,000 per sq.ft, and the most recent 2024 revision has increased it to Rs 4,400 per sq.ft, representing a +10% change.

There are no figures available for any revisions prior to 2002 or for years not listed in the register. Overall, from 2002 to 2024, the guideline value has increased by +445%.

Guideline values in Saligramam

In Saligramam, there are a total of 333 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, which is equal to the guideline value of Gandhi Nagar - Gangadharan Street.

• Gandhi Nagar - Gangappa Street: Rs 4,400 per sq.ft (2024)
• Gandhi Nagar - Kamarajar Street: Rs 4,400 per sq.ft (2024)
• Gandhi Nagar - Elango Street: Rs 4,400 per sq.ft (2024)
• Gandhi Nagar - Kaveri Street: Rs 4,400 per sq.ft (2024)
• Gandhi Nagar - Bharathi Street: Rs 4,400 per sq.ft (2024)
• Gandhi Nagar - Anna Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Nagar - Gangadharan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty, calculated at 7%, would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gandhi Nagar - Gangadharan Street?

The Sub Registrar Office that covers Gandhi Nagar - Gangadharan Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value is a critical factor when registering property transactions in Saligramam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process.

When a buyer or seller engages in a property transaction, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the registration process adheres to the established legal framework.

Frequently asked questions

What is the current guideline value for Gandhi Nagar - Gangadharan Street?

The current guideline value for Gandhi Nagar - Gangadharan Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 808 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of +445% over the years.

What is the land classification for Gandhi Nagar - Gangadharan Street?

The land classification for Gandhi Nagar - Gangadharan Street is Residential Class II Type - I.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Gandhi Nagar - Gangadharan Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 at a rate of 7%.