Guideline Value for Gandhi Nagar - Thiruvalluvar Street

Gandhi Nagar - Thiruvalluvar Street guideline value

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

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

The guideline value for Gandhi Nagar - Thiruvalluvar Street has seen several revisions over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 481 per sq.ft. This increased to Rs 526 per sq.ft in 2003, then rose significantly to Rs 1,250 per sq.ft in 2007. Following this, the value jumped to Rs 4,000 per sq.ft in 2012, before decreasing to Rs 2,680 per sq.ft in 2017. The value then increased to Rs 4,000 per sq.ft in 2023, and finally to the current figure of Rs 4,400 per sq.ft in 2024.

In terms of percentage changes, the guideline value increased by 10% from 2023 to 2024. There was a notable increase of 49% from 2017 to 2023. The value decreased by 33% from 2012 to 2017, while it surged by 220% from 2007 to 2012. Additionally, the value rose by 138% from 2003 to 2007 and by 9% from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by 815%.

Guideline values in Saligramam

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

• Gandhi Nagar - Vivekanandan Street: Rs 4,950 per sq.ft (2024)
• Gandhi Nagar - Singaravelar Street: Rs 4,400 per sq.ft (2024)
• Gandhi Nagar - V.O.C. Street: Rs 4,400 per sq.ft (2024)
• Gandhi Nagar - Sathyamoorthy Street: Rs 4,400 per sq.ft (2024)
• Gandhi Nagar - Rajaji Street: Rs 4,400 per sq.ft (2024)
• Gandhi Nagar - Pillayar Koil Street: Rs 4,400 per sq.ft (2024)

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

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

You can use the stamp duty and registration fee calculator for accurate calculations.

Which Sub Registrar Office covers Gandhi Nagar - Thiruvalluvar Street?

The Sub Registrar Office that covers Gandhi Nagar - Thiruvalluvar 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Saligramam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to assess the applicable fees, ensuring that the government receives the correct revenue from property transactions. Buyers and sellers should be aware of the guideline value to understand the financial implications of their property dealings.

Frequently asked questions

What is the current guideline value of Gandhi Nagar - Thiruvalluvar Street?

The current guideline value for Gandhi Nagar - Thiruvalluvar 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 undergone several revisions, with the most recent increase being 10% from Rs 4,000 per sq.ft in 2023 to Rs 4,400 per sq.ft in 2024.

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

Gandhi Nagar - Thiruvalluvar Street is classified as Residential Class II Type - I.

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

The Sub Registrar Office for Gandhi Nagar - Thiruvalluvar 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 guideline value or the sale price, whichever is higher. For example, a property valued at Rs 44,00,000 would incur a stamp duty of Rs 3,08,000 at 7%.