Guideline Value for Gandhi Nagar Main Road

Gandhi Nagar Main Road guideline value

The current guideline value of Gandhi Nagar Main Road is Rs 1,600 per sq.ft, effective from 1 July 2024. This road is located in Selaiyur village and falls under the Selaiyur SRO, classified as Residential Class II Type - II.

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 2012, the guideline value was Rs 1,500 per sq.ft. This figure remained unchanged until 2017, when it dropped to Rs 1,005 per sq.ft. The subsequent revision in 2023 increased the value to Rs 1,500 per sq.ft, and the most recent revision in 2024 raised it further to Rs 1,600 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The overall change from the 2012 revision to the 2024 revision reflects a modest increase of 7%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value for the village is Rs 2,200 per sq.ft, placing the 2024 figure for Gandhi Nagar Main Road below this median.

• Gandhi Park Street: Rs 1,600 per sq.ft (2024)
• Gandhi Street: Rs 1,600 per sq.ft (2024)
• Ganesh Nagar: Rs 3,300 per sq.ft (2024)
• Ganesh Nagar 1st Street: Rs 2,900 per sq.ft (2024)
• Ganesh Nagar 2nd Street: Rs 2,900 per sq.ft (2024)
• Ganesh Nagar 3rd Street: Rs 2,900 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 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, while the registration fee at 2% would be Rs 32,000. Together, these fees would total Rs 1,44,000. It is important to note that the 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 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 Selaiyur

The guideline value is a crucial factor in property transactions in Selaiyur. It serves as the benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When registering a property, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable fees. This ensures that the registration reflects the true value of the property being transacted.

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 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000, and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Which Sub Registrar Office should I visit for transactions in Gandhi Nagar Main Road?

The Selaiyur Sub Registrar Office is responsible for transactions in Gandhi Nagar Main Road, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the median guideline value in Selaiyur?

The median guideline value in Selaiyur is Rs 2,200 per sq.ft, with Gandhi Nagar Main Road's current value being below this median.