Guideline Value for Gandhi Nagar

Gandhi Nagar guideline value

The current guideline value of Gandhi Nagar, located in Ambattur village under the Ambattur SRO, is Rs 1,400 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class V Type - II land classification.

How the guideline value of Gandhi Nagar has changed

Over the years, the guideline value of Gandhi Nagar has seen several revisions. Starting from the 2012 revision, the guideline value was Rs 1,300 per sq.ft. This figure remained until the 2017 revision, where it decreased to Rs 871 per sq.ft, marking a drop of 33%. The value then increased significantly to Rs 1,300 per sq.ft in the 2023 revision, and further rose to Rs 1,400 per sq.ft in the 2024 revision, reflecting an 8% increase from the previous year.

The 2024 revision shows a notable increase of 49% from the 2017 figure. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street, indicating that the guideline value was not recorded during those years.

Guideline values in Ambattur

In Ambattur, there are 448 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,400 to Rs 8,209 per sq.ft, with a median value of Rs 3,600 per sq.ft. The guideline value for Gandhi Nagar is below this median.

• Ganapathi muthali Street: Rs 4,600 per sq.ft (2024)
• Gandhi Street (kamarajapuram): Rs 1,600 per sq.ft (2024)
• E.S.I . Street (Ramapurm): Rs 5,100 per sq.ft (2024)
• E.S.I Kudirrupu (kamarajpuram): Rs 1,600 per sq.ft (2024)
• Egambara Iyyar Street: Rs 4,000 per sq.ft (2024)
• G.N.G. Colony: Rs 4,600 per sq.ft (2024)

Stamp duty and registration fee for property in Gandhi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,400 per sq.ft, the total guideline value amounts to Rs 14,00,000. The stamp duty at 7% would be Rs 98,000, and the registration fee at 2% would be Rs 28,000, bringing the total fees to Rs 1,26,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gandhi Nagar?

The Sub Registrar Office covering Gandhi Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Ambattur, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration laws and to calculate the applicable stamp duty and registration fees.

When a property is sold, the guideline value serves as a benchmark for the transaction, ensuring that the sale price is not significantly lower than the registered value. This helps maintain transparency and accountability in property dealings within the region.

Frequently asked questions

What is the current guideline value of Gandhi Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,300 per sq.ft in 2012 to Rs 871 per sq.ft in 2017, then back to Rs 1,300 per sq.ft in 2023, and finally to Rs 1,400 per sq.ft in 2024.

What is the land classification for Gandhi Nagar?

Gandhi Nagar falls under the Residential Class V Type - II land classification.

Where can I find the Sub Registrar Office for Gandhi Nagar?

The Sub Registrar Office for Gandhi Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone.

How is stamp duty calculated for properties in Gandhi Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, along with a registration fee of 2% of the guideline value.