Guideline Value for Gandhi Nagar Street/Main Road

Gandhi Nagar Street/Main Road guideline value

The current guideline value of Gandhi Nagar Street/Main Road is Rs 3,400 per sq.ft, effective from 1 July 2024. This street is located in Satthankadu village and falls under the Thiruvottiyur SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Gandhi Nagar Street/Main Road has changed

Over the years, the guideline value of Gandhi Nagar Street/Main Road has seen several revisions. The earliest recorded figure is from 2007, when it was Rs 800 per sq.ft. This value increased significantly to Rs 3,100 per sq.ft in 2012, marking an increase of 288%. However, it then decreased to Rs 2,077 per sq.ft in 2017, reflecting a decline of 33%. The value rose again to Rs 3,100 per sq.ft in 2023, before reaching the current figure of Rs 3,400 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 325%.

Guideline values in Satthankadu

In Satthankadu, there are 71 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 3,400 per sq.ft, which is the same as the current guideline value for Gandhi Nagar Street/Main Road.

• Ganthi Nagar Link Road: Rs 3,400 per sq.ft (2024)
• GirijaNagar: Rs 3,400 per sq.ft (2024)
• Ennur High Road: Rs 3,400 per sq.ft (2024)
• Eluthukkaran Street: Rs 3,400 per sq.ft (2024)
• East Railway Pattai: Rs 2,200 per sq.ft (2024)
• East Cabin Road: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Nagar Street/Main Road

For a 1,000 sq.ft plot at the current rate of Rs 3,400 per sq.ft, the guideline value amounts to Rs 34,00,000. The stamp duty, charged at 7%, would be Rs 2,38,000, while the registration fee at 2% would be Rs 68,000. Together, these fees total Rs 3,06,000. 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 Street/Main Road?

The Sub Registrar Office that covers Gandhi Nagar Street/Main Road is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Satthankadu. It is used to determine the stamp duty and registration fees that need to be paid during the transaction.

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 and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Gandhi Nagar Street/Main Road?

The current guideline value of Gandhi Nagar Street/Main Road is Rs 3,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 3,400 per sq.ft in 2024, reflecting a 325% increase over the years.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 3,400 per sq.ft, the stamp duty would be Rs 2,38,000 and the registration fee would be Rs 68,000, totaling Rs 3,06,000.

Which Sub Registrar Office covers this area?

The Thiruvottiyur Sub Registrar Office covers Gandhi Nagar Street/Main Road, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the land classification for Gandhi Nagar Street/Main Road?

The land classification for Gandhi Nagar Street/Main Road is Residential Special Type - III.