Guideline Value for Gandhi Nagar Extension-I

Gandhi Nagar Extension-I guideline value

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

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

Looking at the historical revisions, the guideline value for Gandhi Nagar Extension-I has seen various changes over the years. In 2007, the value was Rs 150 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2012, marking a rise of 233%. However, between 2012 and 2017, the value decreased to Rs 335 per sq.ft, a decline of 33%. The subsequent revision in 2023 maintained the value at Rs 500 per sq.ft, and the 2024 revision also holds the same value, indicating no change from the previous year.

It is important to note that the register does not have figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 233%.

Guideline values in Orathur

In Orathur, there are 80 streets under the Gooduvancheri SRO that have a 2024 guideline value ranging from Rs 335 to Rs 1,700 per sq.ft. The median value is Rs 500 per sq.ft, which is equal to the guideline value of Gandhi Nagar Extension-I.

• Gandhi Nagar Extension-II: 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-I

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, leading to a total of Rs 45,000 for these charges. 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 more details.

Which Sub Registrar Office covers Gandhi Nagar Extension-I?

The Sub Registrar Office that covers Gandhi Nagar Extension-I 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 when buying or selling property in Orathur, as it determines the stamp duty and registration fees payable at the time of registration. Buyers must be aware that these charges are based on the guideline value or the sale price, whichever is higher, ensuring that the transaction is recorded accurately in the official register.

When engaging in real estate transactions, it is essential to consider the guideline value as it reflects the official valuation of the property, which can influence the overall costs involved in the purchase or sale process. This value is set by the Registration Department and is subject to revisions based on market conditions.

Frequently asked questions

What is the current guideline value of Gandhi Nagar Extension-I?

The current guideline value of Gandhi Nagar Extension-I 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 is the land classification for Gandhi Nagar Extension-I?

Gandhi Nagar Extension-I is classified as Residential Special Type - II, indicating its suitability for residential development.

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

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000, leading to specific charges for stamp duty and registration fees.