Guideline Value for Gandhi Nagar Main Road

Gandhi Nagar Main Road guideline value

The current guideline value of Gandhi Nagar Main Road in Kilkattalai village is Rs 4,125 per sq.ft, effective from 1 July 2024. This area falls under the Pallavaram SRO and is classified as Mixed Type - I land.

How the guideline value of Gandhi Nagar Main Road has changed

The guideline value for Gandhi Nagar Main Road has seen significant changes over the years. In 2003, the guideline value was Rs 223 per sq.ft. This figure rose to Rs 700 per sq.ft in 2007, marking an increase of 214%. The value then surged to Rs 3,750 per sq.ft in 2012, reflecting a remarkable increase of 436%. However, it dropped to Rs 2,512 per sq.ft in 2017, a decrease of 33%. The value then experienced a substantial increase to Rs 3,750 per sq.ft in 2023, followed by a further rise to the current value of Rs 4,125 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1,750%. The register does not provide figures for the year 2002 for this street.

Guideline values in Kilkattalai

Kilkattalai village has a total of 194 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,530 per sq.ft, placing the 2024 figure for Gandhi Nagar Main Road above this median.

• Gandhi Road: Rs 2,200 per sq.ft (2024)
• Gandhi Street: Rs 3,080 per sq.ft (2024)
• Gandhi Nagar 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar 1 To 3 Streets: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar 1 To 3 Main Road: Rs 3,300 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 4,125 per sq.ft, the total guideline value amounts to Rs 41,25,000. The stamp duty at 7% would be Rs 2,88,750, and the registration fee at 2% would be Rs 82,500, bringing the total to Rs 3,71,250. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gandhi Nagar Main Road?

The Sub Registrar Office that covers Gandhi Nagar Main Road is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Kilkattalai. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures transparency and compliance with legal requirements during property transactions.

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 4,125 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 223 per sq.ft in 2003 to Rs 4,125 per sq.ft in 2024, marking an overall increase of 1,750%.

What is the land classification for Gandhi Nagar Main Road?

Gandhi Nagar Main Road is classified as Mixed Type - I land, which indicates its varied use potential.

Where is the Sub Registrar Office located for this area?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 41,25,000 would incur a stamp duty of Rs 2,88,750 at 7%.