Guideline Value for Gandhi Nagar Extension-II

Gandhi Nagar Extension-II guideline value

The current guideline value of Gandhi Nagar Extension-II is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Orathur village and falls under the Gooduvancheri SRO. The land classification for this street is Residential Special Type - II.

How the guideline value of Gandhi Nagar Extension-II has changed

The guideline value for Gandhi Nagar Extension-II has undergone several revisions over the years. In 2007, the guideline value was Rs 150 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2012. However, it decreased to Rs 335 per sq.ft in 2017. The most recent revisions in 2023 and 2024 have maintained the guideline value at Rs 500 per sq.ft, showing no change from 2023 to 2024.

From 2017 to 2023, there was a notable increase of 49%, while the change from 2012 to 2017 reflected a decrease of 33%. The substantial increase of 233% from 2007 to 2012 highlights the significant changes over the years. Overall, the guideline value has increased by 233% from 2007 to 2024.

Guideline values in Orathur

In Orathur village, there are 80 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 335 to Rs 1,700 per sq.ft, with the median value being Rs 500 per sq.ft. The guideline value for Gandhi Nagar Extension-II is equal to this median.

• Gandhi Nagar Extension-I: Rs 500 per sq.ft (2024)
• Gandhi Nagar: Rs 500 per sq.ft (2024)
• Ganapathi Syndicate: Rs 400 per sq.ft (2024)
• Ganapathi Nagar: Rs 400 per sq.ft (2024)
• G K Nagar: Rs 335 per sq.ft (2024)
• Eswari Garden: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Nagar Extension-II

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total fees together to Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gandhi Nagar Extension-II?

The Sub Registrar Office that covers Gandhi Nagar Extension-II is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, 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 Orathur

The guideline value is a crucial factor in the registration process when buying or selling property in Orathur. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that transactions are recorded accurately.

When a property is sold, the guideline value serves as a reference point for both buyers and sellers. It helps in maintaining transparency in property transactions and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value for Gandhi Nagar Extension-II?

The current guideline value for Gandhi Nagar Extension-II is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, then decreased to Rs 335 per sq.ft in 2017, and has remained at Rs 500 per sq.ft in both 2023 and 2024.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000 and the registration fee would be Rs 10,000, totaling Rs 45,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office handles registrations for Gandhi Nagar Extension-II?

The Gooduvancheri Sub Registrar Office handles registrations for Gandhi Nagar Extension-II. It is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the minimum value for calculating stamp duty and registration fees during property transactions. It ensures transparency and compliance with local regulations in the buying and selling process.