Guideline Value for Gandhi Nagar - Vivekanandan Street

Gandhi Nagar - Vivekanandan Street guideline value

The current guideline value for Gandhi Nagar - Vivekanandan Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class I Type - I.

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

The guideline value for Gandhi Nagar - Vivekanandan Street has undergone several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 442 per sq.ft. This increased to Rs 483 per sq.ft in 2003, marking a rise of 9%. The value saw a significant jump to Rs 1,250 per sq.ft in 2007, which was a 159% increase. In 2012, the value was Rs 4,500 per sq.ft, reflecting a decrease of 33% from the previous revision. The 2017 revision set the value at Rs 3,015 per sq.ft, which was a 49% increase from 2012. The 2023 revision recorded a guideline value of Rs 4,500 per sq.ft, and the most recent 2024 revision established the current value at Rs 4,950 per sq.ft, indicating a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in the years not mentioned in the register for this street.

Guideline values in Saligramam

In Saligramam, there are 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 guideline value for these streets is Rs 4,400 per sq.ft, placing Gandhi Nagar - Vivekanandan Street above this median.

• Gandhi Nagar - V.O.C. Street: Rs 4,400 per sq.ft (2024)
• Gandhi Nagar - Thiruvalluvar Street: Rs 4,400 per sq.ft (2024)
• Gandhi Nagar - Singaravelar 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 - Vivekanandan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value would be Rs 49,50,000. The stamp duty at 7% would amount to Rs 3,46,500, while the registration fee at 2% would be Rs 99,000. The total cost for these fees together would be Rs 4,45,500. It is essential 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 more details.

Which Sub Registrar Office covers Gandhi Nagar - Vivekanandan Street?

The Sub Registrar Office that covers Gandhi Nagar - Vivekanandan Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Saligramam. It serves as a benchmark for determining the stamp duty and registration fees payable when buying or selling property in the area.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable fees. This ensures that the fees reflect the true value of the property being transacted.

Frequently asked questions

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

The current guideline value of Gandhi Nagar - Vivekanandan Street is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 442 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, showing a significant increase over the years with various fluctuations in between.

What is the registration office for Gandhi Nagar - Vivekanandan Street?

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

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 49,50,000 would incur a stamp duty of Rs 3,46,500 at 7%.

What are the guideline values of other streets in Saligramam?

Other streets in Saligramam have a guideline value of Rs 4,400 per sq.ft in 2024. These streets include Gandhi Nagar - V.O.C. Street, Gandhi Nagar - Thiruvalluvar Street, Gandhi Nagar - Singaravelar Street, Gandhi Nagar - Sathyamoorthy Street, Gandhi Nagar - Rajaji Street, and Gandhi Nagar - Pillayar Koil Street.