Guideline Value for Gandhi Nagar Main Road

Gandhi Nagar Main Road guideline value

The current guideline value of Gandhi Nagar Main Road is Rs 1,300 per sq.ft, effective from 1 July 2024. This road is located in Tondaiarpet village, under the Royapuram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Gandhi Nagar Main Road has changed

The guideline value for Gandhi Nagar Main Road has undergone several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012. However, it decreased to Rs 804 per sq.ft in 2017. The 2023 revision saw a rise to Rs 1,200 per sq.ft, and the most recent revision in 2024 has set the value at Rs 1,300 per sq.ft. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, there was a significant increase of 49%, followed by an 8% rise from 2023 to 2024. The overall change from 2007 to 2024 reflects an increase of 117%. The fluctuations in the guideline value illustrate the changing landscape of property valuation in the area.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft, with a median of Rs 1,600 per sq.ft. The guideline value for Gandhi Nagar Main Road is below this median.

• Gaandhi Street(Moopanar Nagar): Rs 1,300 per sq.ft (2024)
• Gangaiamman Koil Street: Rs 1,300 per sq.ft (2024)
• Fisherman Colony 4th cross Street: Rs 1,300 per sq.ft (2024)
• Fisherman Colony 3rd Main Street: Rs 1,300 per sq.ft (2024)
• Fisherman Colony 3 rd Cross Street: Rs 1,300 per sq.ft (2024)
• Fisherman Colony 2nd Main Street: Rs 1,300 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 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or 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 Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is used as a base for calculating the stamp duty and registration fees when buying or selling property in Tondaiarpet. It serves as a reference point for both buyers and sellers during the registration process, ensuring that the transaction is documented accurately.

When a property is sold, the guideline value is considered to determine the applicable taxes. Buyers should be aware that the stamp duty is calculated based on the higher value between the guideline value and the sale price, which can affect the total costs involved in the transaction.

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 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 117% over the years.

What are the stamp duty rates for properties in this area?

The stamp duty rate for properties in the area is 7%, which is calculated on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office located?

The Royapuram Sub Registrar Office is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What is the land classification for Gandhi Nagar Main Road?

Gandhi Nagar Main Road is classified as Residential Class II Type - I, indicating its designation for residential use.