Guideline Value for Gandhi Nagar

Gandhi Nagar guideline value

The current guideline value for Gandhi Nagar, located in Ramapuram village, is Rs 3,100 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint II SRO and is classified as Residential Class II Type - I.

How the guideline value of Gandhi Nagar has changed

The guideline value for Gandhi Nagar has seen several revisions over the years. In 2012, the value was set at Rs 2,800 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 1,876 per sq.ft. Following this, the value increased significantly to Rs 2,800 per sq.ft in 2023, before rising again to Rs 3,100 per sq.ft in the 2024 revision, marking an increase of 11% from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 11%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 3,100 per sq.ft, which is equal to the guideline value of Gandhi Nagar for 2024.

• Gandhi Nagar 1st Street: Rs 3,100 per sq.ft (2024)
• Gandhi Nagar 2nd Street: Rs 3,100 per sq.ft (2024)
• Gandhi Nagar 3rd Street: Rs 3,100 per sq.ft (2024)
• Gandhi Nagar 4th Street: Rs 3,100 per sq.ft (2024)
• Gandhi Nagar First Avenue: Rs 3,100 per sq.ft (2024)
• Gandhi Nagar Lane: Rs 3,100 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 3,100 per sq.ft, the total guideline value amounts to Rs 31,00,000. The stamp duty, charged at 7%, would be Rs 2,17,000, and the registration fee, charged at 2%, would be Rs 62,000. Together, the total cost for stamp duty and registration would be Rs 2,79,000. It is important to note that 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 detailed 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 Ramapuram

The guideline value is a crucial factor in the registration process when buying or selling property in Ramapuram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

Frequently asked questions

What is the current guideline value of Gandhi Nagar?

The current guideline value of Gandhi Nagar is Rs 3,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,800 per sq.ft in 2012 to Rs 1,876 per sq.ft in 2017, then increased to Rs 2,800 per sq.ft in 2023, and finally to Rs 3,100 per sq.ft in 2024.

What are the other streets in Ramapuram with the same guideline value?

Other streets in Ramapuram with the same guideline value of Rs 3,100 per sq.ft include Gandhi Nagar 1st Street, Gandhi Nagar 2nd Street, Gandhi Nagar 3rd Street, Gandhi Nagar 4th Street, Gandhi Nagar First Avenue, and Gandhi Nagar Lane.

What is the stamp duty rate in Gandhi Nagar?

The stamp duty rate in Gandhi Nagar is 7% of the guideline value or sale price, whichever is higher.

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

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.