Guideline Value for Gandhi Nagar Main Road

Gandhi Nagar Main Road guideline value

The current guideline value of Gandhi Nagar Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This road is located in Madambakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Special 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. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, which is a 10% increase from the 2023 revision of Rs 2,000 per sq.ft. Prior to that, the 2012 revision also recorded a value of Rs 2,000 per sq.ft, indicating no change from 2012 to 2023. The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Overall, from 2012 to 2024, the guideline value has increased by 10%. This reflects the changes in the guideline values over the years, with the 2024 figure being the highest recorded for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for the area is Rs 2,400 per sq.ft, making the current value of Rs 2,200 per sq.ft for Gandhi Nagar Main Road slightly below the median.

• Gandhi Nagar-Madampakkam Main Road: Rs 2,200 per sq.ft (2024)
• Gandhi Road: Rs 2,750 per sq.ft (2024)
• Gandhi Nagar 5th Main Road: Rs 2,200 per sq.ft (2024)
• Gandhi Street: Rs 2,750 per sq.ft (2024)
• Gandhi Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Gandhi Nagar 4th Main Road: Rs 2,200 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 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. 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 Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the 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 critical factor when registering property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the legal valuation of the property. It is essential to be aware of the 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 2,200 per sq.ft as per the 2024 revision, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained the same at Rs 2,000 per sq.ft from 2012 to 2023, with a 10% increase to Rs 2,200 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, and 2017.

What is the land classification for Gandhi Nagar Main Road?

The land classification for Gandhi Nagar Main Road is Residential Special Type - I, indicating its suitability for residential development.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000. The duty is charged on the higher of the guideline value or the sale price.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073. This office handles registrations for properties in the area.