Guideline Value for Gandhi Nagar Main Road

Gandhi Nagar Main Road guideline value

The current guideline value of Gandhi Nagar Main Road is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO and is classified as Residential Class I Type - I.

How the guideline value of Gandhi Nagar Main Road has changed

In the 2012 revision, the guideline value was set at Rs 2,500 per sq.ft. This figure decreased to Rs 1,675 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2024, the value increased significantly by 61%, bringing the current guideline value to Rs 2,700 per sq.ft.

Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a slight increase of 8%. It is important to note that the register does not have figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which is equal to the current guideline value of Gandhi Nagar Main Road.

• Gandhi Nagar Main Road (Koyyathoppu): Rs 2,700 per sq.ft (2024)
• Gandhi Nagar 8th Street: Rs 2,700 per sq.ft (2024)
• Gandhi Nagar 7th Street: Rs 2,700 per sq.ft (2024)
• Gandhi Nagar 7th Cross Street 1st Street: Rs 2,200 per sq.ft (2024)
• Gandhi Nagar 7th Cross Street: Rs 2,200 per sq.ft (2024)
• Gandhi Nagar 6th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value is Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, resulting in a total of Rs 2,43,000. It is important to note that 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 Main Road?

The Sub Registrar Office that covers Gandhi Nagar Main Road 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 Kodungaiyur

The guideline value is a crucial factor during the registration of property transactions in Kodungaiyur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency and fairness in property dealings.

When buying or selling property, the guideline value is used to calculate stamp duty and registration fees. This ensures that the government receives appropriate revenue from property transactions, based on the established guideline values.

Frequently asked questions

What is the current guideline value of Gandhi Nagar Main Road?

The current guideline value of Gandhi Nagar Main Road is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Gandhi Nagar Main Road has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, and then increased to Rs 2,700 per sq.ft in 2024.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total cost would be Rs 2,43,000.

Which Sub Registrar Office is responsible for Gandhi Nagar Main Road?

The Madhavaram Sub Registrar Office is responsible for Gandhi Nagar Main Road, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification for Gandhi Nagar Main Road?

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