Guideline Value for Gandhi Nagar

Gandhi Nagar guideline value

The current guideline value of Gandhi Nagar, located in Pammathukulam village under the Redhills SRO, is Rs 330 per sq.ft, effective from 1 July 2024. This area 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. Starting from Rs 189 per sq.ft in 2002, it increased to Rs 20 per sq.ft in 2003. This was followed by a significant rise to Rs 100 per sq.ft in 2007, and then to Rs 300 per sq.ft in 2012. However, there was a decrease to Rs 201 per sq.ft in 2017, before it rose again to Rs 300 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 330 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 75%. There are no figures available for the revisions in the years not mentioned in this summary.

Guideline values in Pammathukulam

Pammathukulam village has a total of 101 streets under the Redhills SRO, with guideline values in 2024 ranging from Rs 330 to Rs 825 per sq.ft. The median guideline value for these streets is Rs 550 per sq.ft, placing Gandhi Nagar's 2024 figure below this median.

• Ganapathy Colony: Rs 660 per sq.ft (2024)
• Ganapathi Nagar: Rs 660 per sq.ft (2024)
• Eswari Nagar: Rs 660 per sq.ft (2024)
• Eswaran Nagr Annex II: Rs 660 per sq.ft (2024)
• Eswaran Nagar Extension III: Rs 660 per sq.ft (2024)
• Eswaran Nagar Extension-I: Rs 825 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 330 per sq.ft, the total guideline value would be Rs 3,30,000. The stamp duty at 7% would amount to Rs 23,100, and the registration fee at 2% would be Rs 6,600, leading to a total of Rs 29,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gandhi Nagar?

The Sub Registrar Office that covers Gandhi Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Pammathukulam. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property is registered, the guideline value is assessed to calculate the applicable fees. This ensures that the transaction is recorded accurately, reflecting the value of the property as per the latest revisions in the guideline value register.

Frequently asked questions

What is the current guideline value of Gandhi Nagar?

The current guideline value of Gandhi Nagar is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 189 per sq.ft in 2002 to Rs 330 per sq.ft in 2024, with various increases and decreases over the years.

What is the land classification for Gandhi Nagar?

Gandhi Nagar is classified as Residential Class III Type - I.

What is the registration office for Gandhi Nagar?

The registration office for Gandhi Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the stamp duty calculated for property in Gandhi Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.