Guideline Value for Gandhi Nagar

Gandhi Nagar guideline value

The current guideline value of Gandhi Nagar is Rs 830 per sq.ft, effective from 1 July 2024. This area is located in Padappai village, under the Padappai SRO, and is classified as Residential Class III Type - I.

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 750 per sq.ft, which was then reduced to Rs 502 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 750 per sq.ft in the 2023 revision, and finally rose to Rs 830 per sq.ft in the 2024 revision, marking an increase of 11% from the previous year.

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

Guideline values in Padappai

Padappai village has 146 streets under the Padappai SRO, with guideline values ranging from Rs 440 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 830 per sq.ft, which is the same as the current value for Gandhi Nagar.

• Gandhiji Colony: Rs 660 per sq.ft (2024)
• Ganapathy Nagar: Rs 830 per sq.ft (2024)
• Gandhi Street: Rs 830 per sq.ft (2024)
• Eswaran Koil Street: Rs 660 per sq.ft (2024)
• Elliamman Koil Street: Rs 660 per sq.ft (2024)
• Gnanambal Road: Rs 3,300 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 830 per sq.ft, the total guideline value amounts to Rs 8,30,000. The stamp duty at 7% would be Rs 58,100, and the registration fee at 2% would be Rs 16,600, bringing the total to Rs 74,700. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for further assistance.

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 Padappai

The guideline value is a crucial factor in property transactions in Padappai, as it determines the stamp duty and registration fees payable at the time of registration. Buyers and sellers must consider this value to ensure compliance with local regulations during the transfer of property ownership.

When purchasing property, it is essential to verify the guideline value to understand the financial implications, including the associated fees. The guideline value serves as a benchmark for transactions, ensuring that both parties are aware of the minimum value recognized by the Registration Department.

Frequently asked questions

What is the current guideline value of Gandhi Nagar?

The current guideline value of Gandhi Nagar is Rs 830 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2012 to Rs 502 per sq.ft in 2017, then increased to Rs 750 per sq.ft in 2023, and finally to Rs 830 per sq.ft in 2024.

What is the land classification for Gandhi Nagar?

Gandhi Nagar is classified as Residential Class III Type - I under the Padappai SRO.

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

For a property valued at Rs 8,30,000, the stamp duty would be Rs 58,100 and the registration fee would be Rs 16,600, totaling Rs 74,700.

Where is the Sub Registrar Office for Gandhi Nagar located?

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