Guideline Value for Gandhi Nagar

Gandhi Nagar guideline value

The current guideline value of Gandhi Nagar, located in Nandambakkam village, is Rs 990 per sq.ft, effective from 1 July 2024. This area falls under the Padappai SRO and is classified as Residential Special Type - I.

How the guideline value of Gandhi Nagar has changed

The guideline value for Gandhi Nagar has undergone several revisions over the years. In 2007, the value was set at Rs 50 per sq.ft, which increased significantly to Rs 700 per sq.ft in 2012. However, it saw a decrease to Rs 603 per sq.ft in 2017. The 2023 revision raised the value to Rs 900 per sq.ft, and the latest revision in 2024 has increased it further to Rs 990 per sq.ft, marking a 10% rise from the previous year.

From the 2017 revision to 2023, there was a notable increase of 49%. The jump from 2007 to 2012 was particularly remarkable, with a 1300% rise. Overall, from 2007 to 2024, the guideline value has increased by 1880%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nandambakkam

Nandambakkam village has a total of 94 streets under the Padappai SRO, with guideline values ranging from Rs 440 to Rs 2,300 per sq.ft. The median guideline value for these streets is Rs 880 per sq.ft, placing Gandhi Nagar's 2024 figure above this median.

• Ganapathy Nagar: Rs 990 per sq.ft (2024)
• Dharmaraja Nagar: Rs 770 per sq.ft (2024)
• Devendra Nagar Extension: Rs 990 per sq.ft (2024)
• Devendra Nagar: Rs 990 per sq.ft (2024)
• Devendira Nagar: Rs 990 per sq.ft (2024)
• Indra Nagar: Rs 770 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 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty is charged at 7%, resulting in Rs 69,300, while the registration fee is 2%, amounting to Rs 19,800. Together, the total cost for stamp duty and registration fee would be Rs 89,100. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

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 Nandambakkam

The guideline value plays a crucial role during the registration of property transactions in Nandambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is sold, the registration office uses the guideline value to calculate the applicable fees. Buyers should be aware that the duty is charged on the higher of the guideline value or the sale price, ensuring that the correct amount is paid during the registration process.

Frequently asked questions

What is the current guideline value of Gandhi Nagar?

The current guideline value of Gandhi Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen multiple revisions, increasing from Rs 50 per sq.ft in 2007 to Rs 990 per sq.ft in 2024, which is an overall increase of 1880%.

What is the median guideline value for streets in Nandambakkam?

The median guideline value for the 94 streets in Nandambakkam is Rs 880 per sq.ft, with Gandhi Nagar's current value being above this median.

What are the registration fees for property in Gandhi Nagar?

The registration fees include a stamp duty of 7% and a registration fee of 2%, calculated based on the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Gandhi Nagar located?

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