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Guideline Value

Corporate

Guideline Value for Gandhi Nagar First Avenue

₹3100/sq.ft.

The guideline value for Gandhi Nagar First Avenue in Ramapuram village (Chennai South Joint Ii SRO, Chennai zone) is Rs 3100 per sq.ft, effective 1 July 2024. It was Rs 2800 per sq.ft from 1 April 2023, a 11% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Ramapuram

Village

Chennai South Joint II

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹3100 /sq.ft.
From 1-4-2023 ₹2800 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1876 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2800 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510538
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Gandhi Nagar First Avenue

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Gandhi Nagar First Avenue guideline value

The current guideline value of Gandhi Nagar First Avenue is Rs 3,100 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Gandhi Nagar First Avenue has changed

The guideline value for Gandhi Nagar First Avenue has undergone several revisions over the years. The 2012 revision set the value at Rs 2,800 per sq.ft, which was then followed by a decrease to Rs 1,876 per sq.ft in the 2017 revision. Subsequently, the value increased significantly to Rs 2,800 per sq.ft in the 2023 revision, and finally, it reached Rs 3,100 per sq.ft in the 2024 revision, marking an increase of 11% from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 11%. The changes between revisions are notable: from 2017 to 2023, there was a significant increase of 49%, while the value decreased by 33% from 2012 to 2017. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 3,100 per sq.ft, which is equal to the current guideline value of Gandhi Nagar First Avenue.

Stamp duty and registration fee for property in Gandhi Nagar First Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 3,100 per sq.ft, the total guideline value would be Rs 31,00,000. The stamp duty at 7% would amount to Rs 2,17,000, and the registration fee at 2% would be Rs 62,000, bringing the total to Rs 2,79,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gandhi Nagar First Avenue?

The Sub Registrar Office that covers Gandhi Nagar First Avenue is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Ramapuram. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that these costs are calculated based on the official valuation of the property.

When a property transaction occurs, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the registration process is compliant with local regulations.

Frequently asked questions

What is the current guideline value of Gandhi Nagar First Avenue?

The current guideline value of Gandhi Nagar First Avenue is Rs 3,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has changed from Rs 2,800 per sq.ft in 2012 to Rs 1,876 per sq.ft in 2017, then to Rs 2,800 per sq.ft in 2023, and finally to Rs 3,100 per sq.ft in 2024.

What is the land classification for Gandhi Nagar First Avenue?

The land classification for Gandhi Nagar First Avenue is Residential Class II Type - I.

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

For a property valued at Rs 31,00,000, the stamp duty would be Rs 2,17,000, and the registration fee would be Rs 62,000, totaling Rs 2,79,000.

Which Sub Registrar Office covers this area?

The Chennai South Joint II Sub Registrar Office covers Gandhi Nagar First Avenue, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.