Guideline Value for Gandhi Nagar I & II

Gandhi Nagar I & II guideline value

The current guideline value of Gandhi Nagar I & II is Rs 1,200 per sq.ft, effective from 1 July 2024. This area is located in Madambakkam village under the Gooduvancheri SRO, and the land classification is Commercial Special Type - I.

How the guideline value of Gandhi Nagar I & II has changed

The guideline value for Gandhi Nagar I & II has seen several revisions over the years. In 2007, the value was Rs 245 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012. However, it dropped to Rs 804 per sq.ft in 2017. The value remained unchanged at Rs 1,200 per sq.ft in both 2023 and 2024.

From 2017 to 2023, there was a notable increase of 49%, while the value remained constant from 2023 to 2024, showing a change of +0%. Overall, from 2007 to 2024, the guideline value has increased by 390%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 110 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 800 to Rs 2,000 per sq.ft. The median value is Rs 1,200 per sq.ft, making the 2024 guideline value of Gandhi Nagar I & II equal to this median.

• Gandhiji Nagar: Rs 1,200 per sq.ft (2024)
• Ganapathi Nagar Extn-I & II: Rs 1,200 per sq.ft (2024)
• Dr.Srinivasan Nagar: Rs 1,200 per sq.ft (2024)
• Dharmaraj Nagar: Rs 1,200 per sq.ft (2024)
• Devanchi Nagar: Rs 1,200 per sq.ft (2024)
• CMFRI Nagar: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Nagar I & II

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total costs to Rs 1,08,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Gandhi Nagar I & II?

The Sub Registrar Office that covers Gandhi Nagar I & II 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 Madambakkam

The guideline value is a crucial factor during the registration of property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the registration fees and stamp duty are calculated based on this value.

When buying or selling property, the guideline value helps in establishing a fair transaction price. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Gandhi Nagar I & II?

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

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent revisions in 2023 and 2024 remaining at Rs 1,200 per sq.ft. The value increased from Rs 245 per sq.ft in 2007 to Rs 1,200 per sq.ft in 2012, and then dropped to Rs 804 per sq.ft in 2017.

What is the stamp duty for property in Gandhi Nagar I & II?

The stamp duty for property in Gandhi Nagar I & II is 7% of the guideline value. For example, for a property valued at Rs 12,00,000, the stamp duty would amount to Rs 84,000.

Where can I find the Sub Registrar Office for Gandhi Nagar I & II?

The Gooduvancheri Sub Registrar Office covers Gandhi Nagar I & II, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri - 603202, Chengalpattu registration zone.

What is the land classification for Gandhi Nagar I & II?

The land classification for Gandhi Nagar I & II is Commercial Special Type - I, which indicates its intended use and regulatory framework.