Guideline Value for Gandhi Nagar Extn

Gandhi Nagar Extn guideline value

The current guideline value of Gandhi Nagar Extn is Rs 2,475 per sq.ft, effective from 1 July 2024. This area is located in Pammal village, under the Pammal SRO, and is classified as Residential Class I Type - II.

How the guideline value of Gandhi Nagar Extn has changed

The guideline value for Gandhi Nagar Extn has seen significant changes over the years. The 2017 revision set the value at Rs 1,507 per sq.ft, which increased to Rs 2,250 per sq.ft in the 2023 revision, marking a 49% rise. The current value for 2024 is Rs 2,475 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,090 per sq.ft, placing Gandhi Nagar Extn's 2024 figure above this median.

• Gandhi Nagar Extn ,Cross Street: Rs 2,475 per sq.ft (2024)
• Gandhi Nagar/Durairaj Street: Rs 2,475 per sq.ft (2024)
• Gandhi Nagar / All Streets: Rs 2,475 per sq.ft (2024)
• Gandhi Road, Moovendhar Nagar: Rs 2,475 per sq.ft (2024)
• Gandhi Salai /Anna Nagar: Rs 2,750 per sq.ft (2024)
• Gandhi Salai / Shankar Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Nagar Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 2,475 per sq.ft, the total guideline value would be Rs 24,75,000. The stamp duty at 7% would amount to Rs 1,73,250, and the registration fee at 2% would be Rs 49,500, bringing the total to Rs 2,22,750. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Gandhi Nagar Extn?

The Sub Registrar Office that covers Gandhi Nagar Extn is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when it comes to the registration of property transactions in Pammal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the buying or selling process.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are collected. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Gandhi Nagar Extn?

The current guideline value of Gandhi Nagar Extn is Rs 2,475 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 1,507 per sq.ft in 2017 to Rs 2,475 per sq.ft in 2024, which is a total increase of 64% over this period.

What is the land classification for Gandhi Nagar Extn?

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

Where is the Pammal Sub Registrar Office located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a property with a guideline value of Rs 24,75,000 would incur a stamp duty of Rs 1,73,250 at the rate of 7%.