Guideline Value for Gandhi Nagar 1to 3 Streets

Gandhi Nagar 1to 3 Streets guideline value

The current guideline value for Gandhi Nagar 1to 3 Streets in Nandhivaram village is Rs 1,500 per sq.ft, effective from 1 July 2024. This area falls under the Gooduvancheri SRO and is classified as Residential Special Type - I.

How the guideline value of Gandhi Nagar 1to 3 Streets has changed

Looking at the historical revisions, the guideline value for Gandhi Nagar 1to 3 Streets has seen significant changes over the years. In 2002, the guideline value was Rs 128 per sq.ft, which increased to Rs 328 per sq.ft in 2007, marking a substantial rise of 156%. Following that, the value jumped to Rs 1,500 per sq.ft in 2012, reflecting a remarkable increase of 357%. However, it dropped to Rs 1,005 per sq.ft in 2017, which was a decrease of 33%. The value remained at Rs 1,500 per sq.ft in 2023 and continues to be the same in the 2024 revision, showing no change from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,072%. Notably, the register has no figure for the year 2003 for this street.

Guideline values in Nandhivaram

In Nandhivaram, there are 169 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 3,500 per sq.ft, with the median being Rs 1,500 per sq.ft. The guideline value for Gandhi Nagar 1to 3 Streets aligns with this median.

• Ganapathy Nagar Extn.: Rs 2,000 per sq.ft (2024)
• Ganapathy Nagar: Rs 2,000 per sq.ft (2024)
• Gandhi Street: Rs 1,500 per sq.ft (2024)
• Ganesh Nagar: Rs 1,000 per sq.ft (2024)
• Ezhil Avenue: Rs 1,000 per sq.ft (2024)
• Govindarajpuram: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Nagar 1to 3 Streets

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value would be Rs 15,00,000. The stamp duty at 7% would amount to Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, totaling Rs 1,35,000. 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 further calculations.

Which Sub Registrar Office covers Gandhi Nagar 1to 3 Streets?

The Sub Registrar Office that covers Gandhi Nagar 1to 3 Streets is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Nandhivaram. It serves as the basis for calculating stamp duty and registration fees when you buy or sell property. The registration authority uses this value to ensure that the appropriate taxes are collected based on the property's worth.

When registering a property, it is essential to be aware of the guideline value, as it impacts the overall cost involved in the transaction. Buyers and sellers should always refer to the latest guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value for Gandhi Nagar 1to 3 Streets?

The current guideline value for Gandhi Nagar 1to 3 Streets is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 128 per sq.ft in 2002 to Rs 1,500 per sq.ft in 2012, then dropping to Rs 1,005 per sq.ft in 2017, and remaining at Rs 1,500 per sq.ft in 2023 and 2024.

What is the land classification for Gandhi Nagar 1to 3 Streets?

The land classification for Gandhi Nagar 1to 3 Streets is Residential Special Type - I.

Where can I find the Sub Registrar Office for Gandhi Nagar 1to 3 Streets?

The Sub Registrar Office for Gandhi Nagar 1to 3 Streets is located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is stamp duty calculated for properties in Gandhi Nagar 1to 3 Streets?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 15,00,000, the stamp duty would be Rs 1,05,000 at a rate of 7%.