Guideline Value for Gandhi Nagar Main Road

Gandhi Nagar Main Road guideline value

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

How the guideline value of Gandhi Nagar Main Road has changed

The guideline value for Gandhi Nagar Main Road has seen several revisions over the years. In 2007, the value was Rs 250 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, this figure dropped to Rs 1,005 per sq.ft in 2017. The 2023 revision raised it to Rs 1,500 per sq.ft, and the latest revision in 2024 set it at Rs 1,700 per sq.ft, marking a 13% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 580%. Notably, the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, making the 2024 figure for Gandhi Nagar Main Road below this median.

• Gandhi Nagar 2nd Cross Street: Rs 1,700 per sq.ft (2024)
• Gandhi Nagar 1st Cross Street: Rs 1,700 per sq.ft (2024)
• Gajira Garden 6th Cross Street: Rs 3,900 per sq.ft (2024)
• Gajira Garden 5th Cross Street: Rs 3,900 per sq.ft (2024)
• Gajira Garden 4th Cross Street: Rs 3,900 per sq.ft (2024)
• Gajira Garden 3rd Cross Street: Rs 3,900 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 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, making the total fees Rs 1,53,000. Please note that the duty is charged on the higher of the guideline value and the sale price. 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 Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during property transactions in Neelankarai. It is used to determine the stamp duty and registration fees payable when a property is bought or sold. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value serves as a baseline for calculating the applicable fees. It is essential to 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 Main Road?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 580%.

What is the land classification for Gandhi Nagar Main Road?

Gandhi Nagar Main Road is classified as Residential Class III Type - I.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or the sale price, whichever is higher.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.