Guideline Value for Gandhi Nagar Extension

Gandhi Nagar Extension guideline value

The current guideline value of Gandhi Nagar Extension, located in Madhavaram village under the Madhavaram SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Gandhi Nagar Extension has changed

Over the years, the guideline value of Gandhi Nagar Extension has seen significant changes. The earliest recorded revision was in 2017, where the guideline value was Rs 1,340 per sq.ft. This figure increased to Rs 2,200 per sq.ft in the 2024 revision, marking a substantial rise of 64% over this period.

There are no recorded figures for the years 2023, 2012, 2007, 2003, and 2002 for this street. The 2024 revision represents the most current value available.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Gandhi Nagar Extension is above this median, reflecting its current valuation.

• Gandhi Nagar, Ponniammanmedu (Ward-23): Rs 2,200 per sq.ft (2024)
• Gandhi Road @ Gandhiji Road: Rs 1,300 per sq.ft (2024)
• Gandhi Nagar: Rs 2,200 per sq.ft (2024)
• Gandhimathi Street (Ward-1): Rs 1,300 per sq.ft (2024)
• Gandhiji Street (Ward-29): Rs 1,600 per sq.ft (2024)
• Gandhiji Street (Lakshmipuram): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. 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 detailed calculations.

Which Sub Registrar Office covers Gandhi Nagar Extension?

The Sub Registrar Office that covers Gandhi Nagar Extension 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 Madhavaram

The guideline value plays a crucial role during the registration process when buying or selling property in Madhavaram. It is used to determine the applicable stamp duty and registration fees, ensuring that the transaction adheres to the legal requirements set by the state.

When a buyer or seller registers a property, the guideline value is considered to ensure that the transaction is recorded accurately. This value helps in assessing the financial obligations associated with the property transfer, such as stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Gandhi Nagar Extension?

The current guideline value of Gandhi Nagar Extension is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft in 2024, which is a rise of 64%.

Are there any years without a recorded guideline value for this street?

Yes, there are no recorded figures for the years 2023, 2012, 2007, 2003, and 2002 for Gandhi Nagar Extension.

What is the registration fee for property in Gandhi Nagar Extension?

The registration fee is calculated based on the guideline value. For a property valued at Rs 22,00,000, the registration fee would be Rs 44,000 at a rate of 2%.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles all registrations for properties in the area.