Guideline Value for Gandhi Nagar Extension

Gandhi Nagar Extension guideline value

The current guideline value of Gandhi Nagar Extension is Rs 3,960 per sq.ft, effective from 1 July 2024. This area is located in Perungalathur village, under the Padappai SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Gandhi Nagar Extension has changed

The guideline value for Gandhi Nagar Extension has undergone several revisions over the years. The 2012 revision set the value at Rs 3,600 per sq.ft, which was then reduced to Rs 2,412 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 3,600 per sq.ft, and the latest revision in 2024 has further raised it to Rs 3,960 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. The change from 2023 to 2024 reflects a 10% rise. Overall, comparing the 2012 figure to the latest 2024 value, there has been an increase of 10%.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft, with a median value of Rs 2,310 per sq.ft. The guideline value for Gandhi Nagar Extension is above this median.

• Gandhi Road: Rs 2,310 per sq.ft (2024)
• Gandhi Nagar: Rs 3,960 per sq.ft (2024)
• Gandhi Street: Rs 1,980 per sq.ft (2024)
• Ganapathy Road: Rs 2,640 per sq.ft (2024)
• Ganesh Nagar: Rs 2,310 per sq.ft (2024)
• Gangadharan Theru: Rs 1,650 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 3,960 per sq.ft, the total guideline value amounts to Rs 39,60,000. The stamp duty at 7% would be Rs 2,77,200, and the registration fee at 2% would be Rs 79,200, bringing the total to Rs 3,56,400. It is important to note that the 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 Extension?

The Sub Registrar Office that covers Gandhi Nagar Extension is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Perungalathur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Gandhi Nagar Extension?

The current guideline value of Gandhi Nagar Extension is Rs 3,960 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,600 per sq.ft in 2012 to Rs 2,412 per sq.ft in 2017, then to Rs 3,600 per sq.ft in 2023, and finally to Rs 3,960 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Gandhi Nagar Extension?

For a property valued at Rs 39,60,000, the stamp duty is Rs 2,77,200 and the registration fee is Rs 79,200, totaling Rs 3,56,400.

Which Sub Registrar Office covers Gandhi Nagar Extension?

The Padappai Sub Registrar Office covers Gandhi Nagar Extension, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification for Gandhi Nagar Extension?

The land classification for Gandhi Nagar Extension is Commercial Class I Type - I.