Guideline Value for Gandhi Nagar

Gandhi Nagar guideline value

The current guideline value of Gandhi Nagar, located in Perungalathur village under the Padappai SRO, is Rs 3,960 per sq.ft, effective from 1 July 2024. This area is classified as Commercial Class I Type - I.

How the guideline value of Gandhi Nagar has changed

In the 2007 revision, the guideline value was set at Rs 300 per sq.ft. This figure saw a significant increase in the 2012 revision, where it rose to Rs 3,600 per sq.ft, marking a remarkable increase of 1100%. However, in the 2017 revision, the value decreased to Rs 2,412 per sq.ft, reflecting a drop of 33%. The 2023 revision then increased the value to Rs 3,600 per sq.ft, followed by a further increase to Rs 3,960 per sq.ft in 2024, which is a rise of 10% from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 1220%. The changes between the revisions highlight the fluctuations in the guideline value over the years, with the most recent figure being the highest recorded for Gandhi Nagar.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft, with a median value of Rs 2,310 per sq.ft. The guideline value of Gandhi Nagar is above this median.

• Ganapathy Road: Rs 2,640 per sq.ft (2024)
• Gandhi Nagar Extension: Rs 3,960 per sq.ft (2024)
• Gandhi Road: Rs 2,310 per sq.ft (2024)
• Gandhi Street: Rs 1,980 per sq.ft (2024)
• FCI Nagar I to V: Rs 2,640 per sq.ft (2024)
• FCI Nagar: Rs 2,640 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 3,960 per sq.ft, the total guideline value would be Rs 39,60,000. The stamp duty at 7% would amount to Rs 2,77,200, and the registration fee at 2% would be Rs 79,200, bringing the total to Rs 3,56,400. 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 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 further assistance.

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

The guideline value is an essential factor when registering property transactions in Perungalathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling a property, the guideline value helps in assessing the transaction's legitimacy and compliance with legal requirements. It is crucial for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies 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 3,960 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 300 per sq.ft in 2007 to Rs 3,960 per sq.ft in 2024, reflecting an overall increase of 1220% over this period.

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

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would amount to Rs 3,56,400.

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 is the land classification of Gandhi Nagar?

Gandhi Nagar is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.