Guideline Value for Gandhi Nagar

Gandhi Nagar guideline value

The current guideline value of Gandhi Nagar, located in Mudichur village under the Padappai SRO, is Rs 1,210 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Gandhi Nagar has changed

The guideline value for Gandhi Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 1,100 per sq.ft, which was then reduced to Rs 737 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,100 per sq.ft in the 2023 revision and further to Rs 1,210 per sq.ft in the 2024 revision, marking a 10% increase from 2023 to 2024. The overall change from 2012 to 2024 reflects a 10% increase.

Between the revisions, the 2017 to 2023 period saw a notable increase of 49%. The register has no figures for the years 2002, 2003, and 2007 for this street, indicating that no guideline values were set during those revisions.

Guideline values in Mudichur

In Mudichur, there are 135 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 4,000 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Gandhi Nagar is below this median.

• Gajalakshmi Street: Rs 1,210 per sq.ft (2024)
• Gandhi Street: Rs 1,210 per sq.ft (2024)
• Eswaran Nagar: Rs 1,210 per sq.ft (2024)
• Erikkarai Street: Rs 3,630 per sq.ft (2024)
• Elumalai Nagar: Rs 2,200 per sq.ft (2024)
• Ellaiamman Koil Street: Rs 1,210 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 1,210 per sq.ft, the total guideline value amounts to Rs 12,10,000. The stamp duty, charged at 7%, would be Rs 84,700, and the registration fee at 2% would be Rs 24,200, bringing the total cost for these fees to Rs 1,08,900. 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 detailed calculations.

Which Sub Registrar Office covers Gandhi Nagar?

The Sub Registrar Office that covers Gandhi Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mudichur. It serves as a reference point for determining the stamp duty and registration fees that need to be paid, ensuring that these fees are calculated based on the official value set by the Registration Department.

When a property is sold, the guideline value helps in establishing a transparent and standardized valuation, which is essential for both buyers and sellers. This ensures that all transactions are conducted fairly and in accordance with the regulations set forth by the local authorities.

Frequently asked questions

What is the current guideline value of Gandhi Nagar?

The current guideline value of Gandhi Nagar is Rs 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,100 per sq.ft in 2012 to Rs 737 per sq.ft in 2017, then to Rs 1,100 per sq.ft in 2023, and finally to Rs 1,210 per sq.ft in 2024.

Which Sub Registrar Office covers Gandhi Nagar?

The Padappai Sub Registrar Office covers Gandhi Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

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

For a property valued at Rs 12,10,000, the stamp duty would be Rs 84,700 and the registration fee would be Rs 24,200, totaling Rs 1,08,900.

Are there other streets with the same guideline value in Mudichur?

Yes, other streets in Mudichur such as Gajalakshmi Street, Gandhi Street, Eswaran Nagar, and Ellaiamman Koil Street also share the same guideline value of Rs 1,210 per sq.ft for the year 2024.