Guideline Value

Corporate

Guideline Value for Gandhi Nagar

₹4400/sq.ft.

The guideline value for Gandhi Nagar in Parangimalai village (Chennai South Joint Ii SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. It was Rs 4000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Parangimalai

Village

Chennai South Joint II

SRO

Residential Class I Type - II
History
Period Guideline Value
From 1-7-2024 ₹4400 /sq.ft.
From 1-4-2023 ₹4000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2680 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹4000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1800 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹320 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹236 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510538
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Gandhi Nagar

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Gandhi Nagar guideline value

The current guideline value of Gandhi Nagar, located in Parangimalai village under the Chennai South Joint II SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - II.

How the guideline value of Gandhi Nagar has changed

The guideline value for Gandhi Nagar has seen several revisions over the years. In 2002, the value was Rs 236 per sq.ft, which increased significantly to Rs 320 per sq.ft in 2003. Following this, the value rose dramatically to Rs 1,800 per sq.ft in 2007, marking a 463% increase from the previous revision. The 2012 revision saw a slight decrease to Rs 4,000 per sq.ft, but this was followed by a notable increase to Rs 2,680 per sq.ft in 2017, reflecting a 33% drop from 2012. The value then surged to Rs 4,000 per sq.ft in 2023, before reaching the current guideline value of Rs 4,400 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,764%. The register has no figures for the years not mentioned in the revisions.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 11,000 per sq.ft, with a median value of Rs 3,850 per sq.ft. The guideline value for Gandhi Nagar is above this median.

Stamp duty and registration fee for property in Gandhi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. Together, the total cost would be Rs 3,96,000. 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 further calculations.

Which Sub Registrar Office covers Gandhi Nagar?

The Sub Registrar Office that covers Gandhi Nagar is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Parangimalai. It serves as a reference point for determining the stamp duty and registration fees payable when a property is bought or sold.

When registering a property, the guideline value is compared to the sale price, and the higher amount 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?

The current guideline value of Gandhi Nagar is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 236 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, showing an overall increase of 1,764% over the years.

What is the land classification for Gandhi Nagar?

Gandhi Nagar is classified as Residential Class I Type - II, indicating its primary use for residential purposes.

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

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Where is the Sub Registrar Office for Gandhi Nagar located?

The Sub Registrar Office for Gandhi Nagar is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.