Guideline Value for Gandhi Nagar 1st Street

Gandhi Nagar 1st Street guideline value

The current guideline value of Gandhi Nagar 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO, and it falls under the Residential Class I Type - I land classification.

How the guideline value of Gandhi Nagar 1st Street has changed

In the 2017 revision, the guideline value for Gandhi Nagar 1st Street was Rs 1,675 per sq.ft. The most recent revision in 2024 has increased this value to Rs 2,700 per sq.ft, marking a significant change of +61% over the seven-year period. The register has no figures for this street in the years 2023, 2012, 2007, 2003, and 2002.

From the 2017 revision to the 2024 revision, the guideline value has seen a substantial increase, reflecting changes in the area. The current value of Rs 2,700 per sq.ft aligns with the median guideline value for the 1,318 streets in Kodungaiyur under the Madhavaram SRO, which ranges from Rs 1,900 to Rs 4,000 per sq.ft.

Guideline values in Kodungaiyur

In Kodungaiyur, the guideline values for different streets vary, with the current median being Rs 2,700 per sq.ft. This positions Gandhi Nagar 1st Street at the median value for 2024.

• Gandhi Nagar 1st Main Road (Koyyathoppu): Rs 2,700 per sq.ft (2024)
• Gandhi Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Gandhi Nagar 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Gandhi Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Gandhi Nagar 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Gandhi Nagar 3rd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to 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 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 1st Street?

The Sub Registrar Office that covers Gandhi Nagar 1st Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Kodungaiyur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value rather than the negotiated sale price.

When buying or selling property, it is essential to be aware of the current guideline value, as this will directly affect the overall costs involved in the transaction. Buyers should ensure that they are prepared for these additional expenses when planning their purchase.

Frequently asked questions

What is the current guideline value of Gandhi Nagar 1st Street?

The current guideline value of Gandhi Nagar 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased from Rs 1,675 per sq.ft to Rs 2,700 per sq.ft, which is a change of +61%.

Are there any years without a guideline value for Gandhi Nagar 1st Street?

Yes, the register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for Gandhi Nagar 1st Street.

What is the median guideline value in Kodungaiyur?

The median guideline value for the 1,318 streets in Kodungaiyur under the Madhavaram SRO is Rs 2,700 per sq.ft, which is the same as the current value for Gandhi Nagar 1st Street.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can also find your SRO through the provided link.